Research and development information stolen from Volvo Cars during ransomware attack

On Friday 10^th of December 2021, Volvo Cars, a Swedish carmaker disclosed that they discovered that threat actors have stolen research and development information from one of their file repositories. Volvo Cars have concluded that there is an expected impact on the company’s operations.  

“Investigations so far confirm that a limited amount of the company’s R&D property has been stolen during the intrusion. Volvo Cars has earlier today concluded, based on information available, that there may be an impact on the company’s operation.”- Volvo Cars

Volvo Cars also stated that they are conducting their own investigation with the help of a third-party to investigate the incident. Volvo Car has stated that they believe there is no impact on the safety or security of its customers’ cars or their personal data with the current available information.

Currently, Volvo Cars hasn’t disclosed any other details about the breach and haven’t named which ransomware gang is responsible for the incident but the Snatch ransomware gang has already claimed the attack on November 30^th, 2021, via an entry on their leak site. Since the claim by Snatch, they have leaked 35.9MB of what they have claimed to be documents from Volvo’s servers.