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“Not many details have been shared about this incident yet, either by the attack group or by Ferrari themselves. There have been media reports that the RansomEXX group is behind the attack having targeted other high profile companies in the past such as Gigabyte, Hellman Worldwide and fashion brand Zegna. The group, which was given the name after ‘ransom.exx’ was found in its binary, is usually motivated by financial gain but Ferrari have said that no ransomware has been detected. I would be surprised if this is the case because the group has become known for operating a ransomware-as-a-service model, publishing stolen data on its leak site just as it has done with the Ferrari attack.
There are several measures that can be taken to help avoid attacks like this being successful. These should be adopted as part of a zero trust approach, where implicit trust is eliminated and the principle of ‘never trust, always verify’ is used. This means that strong authentication methods, network segmentation and lateral movement prevention is key. Having full visibility of the IT environment and having the ability to fix vulnerable devices that are connected to it is another critical aspect. If these practices are employed as part of an organisation’s culture along with effective staff training then the potential damage caused by financially motivated attacks can be significantly reduced.”