What to know about the CDK Global cyberattack disrupting car dealers

A cyber attack on a company that provides software for thousands of car dealers in North America says it's a quote ransom event. The hack on CDK Global happened last week. It's still disrupting about 15,000 car sellers that depend on the company's software to run their businesses. Many have resorted to doing things manually with pen and paper until systems are restored. According to a Bloomberg report, the groups that says it's behind the attack is demanding 10s of millions of dollars in ransom. CBS News Money Watch reporter Megan Cerullo joins us with more Megan to talk about when when this cyber attack happened and, and, and what happened. The attack took place Tuesday evening. CDK said what it did was it took down its operations proactively to prevent the attack from spreading. It started bringing its systems back up again Wednesday because it powers more than half of the industry 15,000 dealers. The car dealerships across the US rely on their systems once it brought them back, back online. It suffered a second cyber attack and we're talking about last Wednesday. So Wednesday, Thursday, Friday, Saturday, Sunday, Monday. That's six days already that car dealerships have not been able to conduct business as usual. Why are hackers targeting car dealerships? This kind of attack is becoming increasingly common. It's not an accident that they target targeted this kind of company because they were well aware of how would impact the customer. And because so many customers are affected because car dealers can't sell cars and customers can't buy cars, that puts a lot of pressure on CDK to pay the ransom quickly. And are they going to pay that? We don't even say that. We don't know they they haven't indicated. Bloomberg did cite a source familiar with the matter saying that CDK is planning on making. A payment to the group that is reportedly based out of Eastern Europe. And in the meantime, they just, they're just as we mentioned doing in some cases, things the old fashioned way with pen and paper. It's not affecting the cars themselves. It's just how their dealer process works. These systems are relied upon to manage payroll, inventory, customer relationships. They really do are the lifeblood of these businesses are the engines that power them. And so the the, the lucky few dealerships that use competitor software are probably doing pretty well right now, but those that depend on CDK are are resorting to to writing orders down on sticky notes. Using pen and paper to transact, but, for example, these systems monitor and track inventory of parts and repairs. And a lot of those orders have ground to a halt because it's not like the dealers, even if they're using the CDK software, discouraging people from coming in to buy a car right now. I would assume they're trying to keep their customers as happy as they can under the circumstances. OK. Megan Cirillo, thank you very much. Thanks so much.