Software company plans to pay millions in ransom to hackers

CDK Global, a software provider for car dealerships in North America, is set to pay hackers tens of millions of dollars in ransom after a cyberattack that disrupted operations at around 15,000 car dealerships. The hackers, believed to be based in eastern Europe, targeted CDK's dealership management system, causing chaos in sales, repairs, and deliveries within the industry. CDK briefly restored some services but had to deactivate them following a second cyberattack. The disruption is affecting dealerships' day-to-day functions, with some resorting to workaround solutions. The parent company, Brookfield Business Partners LP, experienced a decline in trading, as did other dealer groups like AutoNation Inc. and Sonic Automotive Inc. The attack highlights the vulnerability of the automotive industry to cyber threats and the critical reliance of dealerships on software services for their operations. CDK warned customers about potential scammers posing as company affiliates amid the ongoing confusion. The situation underscores the growing trend of ransomware attacks targeting critical infrastructure and the significant financial impacts they can have on businesses.