The Swatch Group is best known for its colorful watches that are commonly sold in department stores around the world. The company employs over 36.000 employees in 50 countries and in 2019 recorded revenues of $ 9,6 billion.
Swatch Group said it spotted a cyber-attack over the weekend and its IT staff decided to shut down its IT systems to prevent the attack from spreading across the country. network.
"Swatch Group confirms that it has identified clear signs violation on some of its computer systems over the weekend. For reasons security, the Group took immediate action and precautionarily closed some of its systems, which affected certain operations".
The watch company said it immediately launched an investigation to assess and analyze the nature of the attack and took appropriate action to address the problem. "The condition will return to normal as soon as possible".
According to Bleeping Computer, the Swatch Group did not provide further details about the security incident, but it was most likely a ransomware attack.
If so, then Swatch is one of the most recent victims ransomware attack. In recent days, many well-known and great Companies, such as Luxottica, the Universal Health Services, η Arthur J. Gallagher (AJG) and h Tyler Technologies were hit by ransomware.
Ransomware gangs are increasingly targeting large organizations, as they have realized that there are more likely to receive ransom. A large company can not interrupt its services and operations for a very long time, so it is more likely to succumb and pay the ransom to hackers.