VOLEX Confirms Unauthorized Access to Data After Cyber Attack
VOLEX, the British cable manufacturer known for transmitting electricity and data, has confirmed this morning that it experienced unauthorized access to its data through a cyber attack on its technological infrastructure.[1]
The company immediately took security measures to halt the unauthorized access as soon as the attack was discovered.[1]
To assess the nature and extent of the incident, Volex has engaged the services of third-party organizations specializing in this area. They are also assisting in the implementation of an incident response plan.[1]
Despite the incident, all of Volex’s resources are operating with minimal disruptions, and trading with clients and suppliers continues as usual. The impact on financial losses is expected to be minimal, if any.[1]
VOLEX manufactures a wide range of products, including power cables, connectors, charging components for electric vehicles, consumer cable harnesses, power devices, cables for data processing centers, and high-speed copper connecting cables.[1]
The sudden shortage of these goods could potentially pose problems in various industries.[1]
Volex has production sites in Eastern Europe and Asia, and its revenue for the previous financial year exceeded £720 million ($879 million). Following the announcement of the cyber attack, the company’s shares experienced a 3% decline.[1]
Simon Torosar, Chief Commercial Director of Claroty, emphasized the potential consequences of such attacks, including disruptions to global supplies and production delays lasting several months, which can severely impact a company’s reputation and finances.[1]
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| [1] | https://www.londonstockexchange.com/news-article/notice-of-Cyber-incident/16157458 |