https://techmonitor.ai/technology/cybersecurity/rheinmetall-black-basta-10m

Rheinmetall has revealed that a cyberattack it suffered in April 2023 cost the firm at least $10m. Conducted by the ransomware gang Black Basta, the breach in its civil unit led to the disclosure of reams of confidential data, including copies of passports, non-disclosure agreements and purchase orders. As a result, Rheinmetall was forced to spend an undisclosed sum on business recovery costs as it watched sales in certain units tank following the hack.

“The IT incident in the second quarter of 2023 also affected IT systems at the sides of Materials and Trade in Germany and abroad which initially resulted in a significant drop in sales,” reads Rheinmetall’s annual report for last year. Despite this, however, the firm claims to have recovered relatively quickly, with sales declining “by only ‑1% or €‑4 million year-on-year to €737 million.”