Renowned Japanese watchmaker Seiko, a global giant in the horological industry with an impressive workforce of approximately 12,000 employees and annual revenues exceeding US$1.6 billion, has become the latest target of the notorious BlackCat/ALPHV ransomware gang.
In a statement, the company revealed that unauthorized access had been gained to a portion of its IT infrastructure, leading to the unauthorized access or exfiltration of sensitive data.
The breach, believed to have occurred on July 28th, 2023, prompted Seiko to take swift action. On August 2nd, they enlisted the expertise of external cybersecurity professionals to conduct an in-depth investigation into the matter. Consequently, the investigation confirmed the breach’s occurrence and the possible compromise of the information held by Seiko and its affiliated entities.
Seiko expressed its regrets to customers and business partners who might be affected by the breach, cautioning them to remain vigilant against suspicious communication impersonating the company.
The situation has taken a darker turn with the emergence of the BlackCat ransomware gang’s involvement. The group, known for relentlessly targeting enterprises, has displayed audacity by sharing snippets of stolen data on its extortion site, effectively mocking Seiko’s IT security. The leaked data reportedly includes production plans, employee passport scans, forthcoming model releases, and crucial lab test outcomes.
Alarmingly, the ransomware actors have even disclosed confidential technical schematics and designs of Seiko watches, including potentially patented technology. This development is particularly unsettling due to the prospect of proprietary information being exposed to competitors and counterfeiters.
