12:52 PM EDT, 06/24/2024 (MT Newswires) -- (Updates with additional details throughout.)

A hacking group called BlackSuit is responsible for the ransomware attack on CDK Global (CDK) that has brought car sales nationwide to a standstill, Bloomberg reported, citing Allan Liska, a threat analyst at security firm Recorded Future.

The cybercrime group is demanding an extortion fee in the tens of millions of dollars and CDK intends to pay, Bloomberg reported Friday.

On Monday, CDK's name was not on BlackSuit's website listing extortion victims, suggesting the company is negotiating with the group or that the ransom payment has been made, Bloomberg said.

A CDK spokesperson told Bloomberg that the company is collaborating with law enforcement and expects to resume services in the coming days.

BlackSuit, linked to the Royal Ransomware group, operates as a ransomware-as-a-service gang, leasing its technical tools to affiliates and receiving a share of ransom payments, according to Bloomberg. The group reportedly specialize in hacking Linux and Windows systems.

CDK did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)