Hackers are demanding over 1,800 BTC from Foxconn’s massive electronics after the Ransomware attack

An international electronic giant and well-known maker of Apple products is the latest victim of a millionaire ransomware attack used over the Thanksgiving weekend on one of its branches.

Apple maker is the well-known Ransomware Gang Latest Victim

Foxconn, a publicly traded Taiwanese company and one of the largest electronics manufacturing companies, suffered a cyberattack used by Doppelpaymer, a group of hackers specializing in ransom attacks, who demanded a ransom of 1,804 bitcoin (BTC), worth over $ 34 million as of press time.

According to Bleeping Computer, threat actors managed to steal unencrypted files before encrypting devices on the Mexican branch of Foxconn.

No Financial Information Released by Hackers

The DoppelPaymer gang released bulk files related to the electronics giant on Dec. 7, 2020, but a media outlet notes that it does not contain any financial information or employee personal details. The attack reportedly took place on November 29, 2020, at the facilities in Ciudad Juarez, Mexico.

However, Doppelpaymer attackers explained to Bleeping Computer that they were targeting Foxconn operations in North America, but were not attacking the entire company. They also provided more detail on the issue:

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

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

They are also known for asking “very high ransom requirements,” said Callow, who also added the following comment:

Ransomware continues to become increasingly problematic. Average demand has increased from around $ 5k in 2018 to somewhere between $ 150k and $ 250k today. And, of course, that means we now have much more motivated and better resourced offenders.

The Electronic Giant’s Official Statement on the Ransomware Attack

Foxconn also issued a statement on December 8, 2020:

We can confirm that a US intelligence system that supports some of our operations in America is the focus of a cybersecurity attack on November 29. We are working with technical experts and law enforcement agencies to conduct an investigation to determine the full impact. of this unlawful act and to identify those responsible and bring them to justice.

On December 3, 2020, Black Shadow hackers attacked Shirbit’s IT infrastructure with ransomware, one of Israel’s largest insurance companies, which demanded 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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