Foxconn Suffers from Ransomware, Hit with $34M Ransom

Taiwanese electronics giant Foxconn suffered from a ransomware attack in its Mexican facility during the last Thanksgiving weekend this 2020. Following this, Bleeping Computer states that the hackers are demanding a massive $34.7 million ransom to be paid in Bitcoin.

Foxconn is considered the largest electronics manufacturing company in the world. Bleeping Computer states the company holds a revenue of $172 billion in 2019 alone. The tech company also employs more than 800,000 people under its wing.

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Apart from being the largest electronics maker in the world, the Taiwanese company is also the manufacturer of Apple’s iPhone and many other devices. Some of its subsidiaries include Belkin, FIH Mobile, Innolux, and Sharp Corporation.

Foxconn Suffers from Ransomware

Based on the report, cybercriminals supposedly gained access to Foxconn’s networks last November 29, 2020. The ransomware attack was carried out by DoppelPaymer and its CTBG MX facility located in Ciudad Juarez, Mexico took the hit.

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Following the attack, the company website went down, showing an error to its customers. According to Bleeping Computer, the facility first opened in 2005. It is primarily used for the assembly and shipping of electronics to varying regions in both North and South America.

When Bleeping Computer reached out to DopplePaymer about the incident, the attacker said that it had only concentrated the ransomware attack to the North American region instead of the whole company.

In a statement, it said, “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).”

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Apart from encrypting the said systems, the hackers left a ransom note on the Foxconn servers asking for a Bitcoin ransom amounting to 1804.0955, approximately $34,686,000 million, states Bleeping Computer.

Around 100 gigabytes of unencrypted files have been obtained by the attackers. In exchange for the compromised servers, the attackers demanded that a response be made within three days, lest the first part of the data is shared to the public, reports CRN.

Foxconn also acknowledged the ransomware attack not long after Bleeping Computer talked with the ransomware attackers. It said, “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.”

The company also said that they have leveraged the help of authorities, as well as technical experts and law enforcement agencies, to conduct an investigation surrounding the incident.

According to Reuters, the scope of the attack was contained and the incident “had a limited impact on its operations.” The company reportedly disclosed the attack in a statement to the Taiwan stock exchange.

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