Severe Cyber Attack at Dewan Farooque Motors Corrupts Data and Crashes Servers

A cyber-attack crippled Dewan Farooque Motors Limited (DFML), corrupting key corporate data and crashing servers.

The Pakistan Stock Exchange (PSX) received notice of the incident on Friday. DFML told stakeholders that restoring its information systems and financial data, including information from the first quarter ending September 30, 2024, will be a lengthy process.

Here is the official statement from DFML which came soon after the cyber attack.

We regret to inform you that owing to malware and cyber-attack our IT servers have been crashed and data have been corrupted badly, resulting in postponing the board meeting. Accordingly, you are informed that the board meeting has been postponed till the time of its restoration.

Finer details such as how much data loss occurred, the amount of monetary loss, or how long will it take to restore its data and other services remain unclear. However, the damage to the company’s publicly available financials was apparent.

In the wake of the cyber-attack announcement, DFML’s stock plummeted. Shares fell by Rs. 1.34, or 3.37%, closing at Rs. 38.44.

The motive of the hackers and their origin are also a mystery. It is unknown how they managed to breach the company’s systems and what methods they used.

A cyber-attack, in which criminals use one or more computers to target computers or networks, can disrupt operations, steal information, or create a base for further attacks. This type of assault previously impacted Pak Suzuki Motor Company (PSMC) in April, when data was leaked following a cyber-attack.

At the time, PSMC stated that initial findings indicated data from a server, including HR and financial information, had been transferred to a public internet protocol address.