Hackers Demand Over 1,800 BTC From Electronics Giant Foxconn After Ransomware Attack

Hackers Demand Over 1,800 BTC From Electronics Giant Foxconn After Ransomware AttackA multinational electronic giant and a well-known manufacturer of Apple products is the latest victim of a millionaire ransomware attack deployed over the Thanksgiving weekend on one of its branches.

Apple’s Manufacturer Is the Latest Victim of Well-Known Ransomware Gang

Foxconn, a publicly-traded Taiwanese company and one of the largest electronics manufacturing firms, suffered a cyberattack deployed by Doppelpaymer, a group of hackers specialized in ransomware attacks, who asked for a 1,804 bitcoin (BTC) ransom, worth over $34 million as of press time.

According to Bleeping Computer, threat actors managed to stole unencrypted files before encrypting devices on Foxconn’s Mexican branch.

No Financial Information Leaked by the Hackers

DoppelPaymer gang published a bulk of files belonging to the electronics giant on December 7, 2020, but the media outlet notes it doesn’t contain any financial information or employee’s personal details. The attack reportedly took place on November 29, 2020, in the facilities located in Ciudad Juarez, Mexico.

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However, Doppelpaymer attackers clarified to Bleeping Computer that they targeted Foxconn’s operations in North America, but did not attack the whole company. They also provided more details on the matter:

We encrypted NA segment, not whole Foxconn, it’s about 1200-1400 servers, and not focused on workstations. They also had about 75TB’s of misc backups, what we were able to – we destroyed (approx 20-30TB).

Speaking with news.Bitcoin.com, Brett Callow, threat analyst at malware lab Emsisoft, said that Doppelpaymer had hit several significant organizations in the public and private sector, including Royal Military College of Canada, Newcastle University, Pemex, and the cities of Torrance and Knoxville.

They’re also well-known for asking “extremely high ransom demands,” said Callow, who also added the following comment:

Ransomware continues to become increasingly problematic. The average demand has increased from about $5k in 2018 to somewhere between $150k and $250k today. And, of course, that means we now have criminals who are significantly more motivated and better resourced.

Electronic Giant’s Official Statement on the Ransomware Attack

Foxconn also issued a statement on December 8, 2020:

We can confirm that an information system in the US that supports some of our operations in the Americas was the focus of a cybersecurity attack on November 29. We are working with technical experts and law enforcement agencies to carry out an investigation to determine the full impact of this illegal action and to identify those responsible and bring them to justice.

On December 3, 2020, Black Shadow hackers attacked the IT infrastructure of Shirbit with ransomware, one of Israel’s largest insurance companies, who requested a ransom of 200 BTC (over $3.8 million).

Do you think ransomware attacks are an underestimated problem? Let us know in the comments section below.

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