(Bloomberg) -- A group of hackers executed a ransomware attack Wednesday on Italian menswear premium brand Boggi Milano, according to people familiar with the matter and documents seen by Bloomberg.
The company confirmed that it was the victim of a cyber-attack and that an investigation into the incident was under way. A Boggi Milano representative said the company didn’t believe the attack had any significant impact and that the company was cooperating with authorities.
The hacker group called Ragnarok said on its dark web blog that it targeted Boggi Milano servers and stole about 40 gigabytes of corporate data including human resource files such as salary information. The people familiar with the matter confirmed that it was a ransomware attack and that 40 gigabytes of data was stolen.
Ransomware is a type of malware that locks computers and blocks access to files in lieu of a payment. Companies targeted with ransomware must pay the ransom via cryptocurrency or find another way to restore files and rebuild computer networks.
The FBI estimates that at least $144.35 million (123 million euros) in Bitcoin have been paid from 2013 to 2019 as ransom to hackers.
Founded in 1939, Boggi Milano is among the best known premium Italian menswear brands. The company operates about 200 shops in 38 countries.
©2021 Bloomberg L.P.