Ransomware attack cost IKEA operator in Eastern Europe $23 million

Summary: The Fourlis Group, which operates IKEA stores in Greece, Cyprus, Romania, and Bulgaria, suffered a ransomware attack just before Black Friday in 2024, leading to an estimated €20 million in losses. The attack primarily affected IKEA’s business operations, causing disruptions in store replenishment and e-commerce activities. Despite the impact, the company did not pay the ransom and restored systems with the help of cybersecurity experts, reporting no evidence of data theft.

Affected: Fourlis Group (IKEA stores, Intersport, Foot Locker, Holland & Barrett)

Keypoints :

• The ransomware attack occurred on November 27, 2024, leading to significant losses for the Fourlis Group.
• Disruptions mainly affected IKEA operations but also impacted other brands under the group.
• The CEO confirmed that no ransom was paid, and subsequent attacks were successfully mitigated.
• No evidence of data theft was found during the investigation, and data protection authorities were notified.
• No ransomware group has claimed responsibility for the attack, likely due to the lack of data exfiltration.