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Report Links Russian Hackers To Jaguar Land Rover Cyberattack

A cyberattack on Jaguar Land Rover that disrupted production for months is now being linked to Russian hackers, according to a report by The New York Times citing people familiar with the investigation. The breach is estimated to have cost the British economy $2.5 billion and prompted the U.K. government to back a £1.5 billion loan guarantee for the automaker.

Pressure On A Strategic National Asset

Jaguar Land Rover is one of the United Kingdom’s largest manufacturers and employers. The cyberattack disrupted production for months, affecting the company’s operations and wider supply chain.

New Reporting Points To Russian Actors

For months, the identity of the attackers remained unknown. People familiar with the investigation told The New York Times that the hackers behind the breach were Russian. Whether they acted on behalf of the Russian government, operated independently or worked with tacit state support remains unclear.

An Investigation Involving Multiple Agencies

Microsoft identified the Russian hacking group and alerted Jaguar Land Rover, The New York Times reported. Authorities and cybersecurity firms involved in the investigation included the FBI, the U.K.’s National Crime Agency, the National Cyber Security Centre, Google’s Mandiant and Palo Alto Networks.

A Second Intruder Complicates The Investigation

The report also said a Jordanian hacker known as Rey gained access to parts of Jaguar Land Rover’s network, adding another layer to the investigation into the breach.

Bitcoin Surges 23% In A Week As Investor Optimism Returns

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

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