Nio Blackmailed For Millions In Bitcoin By Hackers

Nio Inc. is being threatened by hackers after they obtained user and car sales information from the Chinese electric vehicle manufacturer.

According to the manufacturer, Nio got an email this month demanding US$2.25 million (RM9.98 million) in Bitcoin in exchange for withholding the data. A portion of Nio's user and vehicle sales data from before August 2021 has been compromised, according to an internal inquiry.

In a statement, Nio stated, "The company strongly opposes such unlawful conduct and will not submit to cyber crimes." It also said it has reported the matter to regulators. It promised to bear the cost of any possible consumer losses.

Automakers and their suppliers are now concerned about data security risks. During a breach in August, hackers stole almost 40 gigabytes of data from Continental AG, a German manufacturer of vehicle parts.

Volkswagen AG, Mercedes-Benz AG, and BMW AG customers' information may be among the stolen goods, according to a report published by Germany's Handelsblatt last month.

As part of a broader control on data exports, which also included a crackdown on ride-hailing company Didi Global Inc. last year, China has shown an increased concern about information-security risks related to autonomous vehicles.

According to instructions published by the Ministry of Industry and Information Technology last year, sensitive data generated and gathered in China should be kept there.