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Apple Supplier Foxconn Suffers Ransomware Attack, $35M in BTC Ransom Demanded

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Ransomware attacks are more rampant in 2020, with hackers looking for every avenue to squeeze cash out of their victims. The latest in the line of victims is Foxconn, the world’s largest manufacturer of electronics.

$35 Million in Ransom Requested 

The Taiwan-based electronics manufacturer was hit with a ransomware attack over the Thanksgiving weekend, Bleeping Computer reportsCiting industry sources, Bleeping Computer reported that Foxconn suffered a data breach around November 29 at its facility in Ciudad Juárez, Mexico.

The facility has been operating since 2005, and it functions as a significant hub for the company’s equipment shipping and assembly operations across South and North America.

The ransomware operators had published details belonging to the company on their data leak site. However, while most of the documents included internal files and reports, there were no personal or financial details belonging to the firm or its employees. The facility’s website has reportedly been down since the day of the attack, with visitors getting an error message.

Bleeping Computer also shared a screenshot of the hackers’ ransom note available on the Foxconn servers. The message includes a link to Foxconn’s victim page on the DopplePaymer Tor payment portal, as well as a demand for 1804.0955 BTC (about $34.7 million) in ransom payments.

Possibly Worse to Come

The DoppelPaymer gang has been particularly active in countries like Mexico in 2020. In July, local news source El Economista reported that about 75 percent of Mexican companies now use cloud networks from tech giants like Google, Amazon, and Microsoft. However, many of these firms have also reported significant data issues in the past.

The companies had been plagued by weak security protocols, which allowed criminals to exploit their weaknesses and steal their data. 

The DoppelPaymer gang is also spreading its tentacles into the United States. In August, they attacked Boyce technologies, a New York-based tech firm that had gotten approval from the Food and Drug Administration (FDA) to produce ventilators for the city. The gang boasted about the files they stole from the tech firm, which included sales and purchase orders, assignment forms, and more.

Foxconn’s case appears to be a harbinger for things to come. Last month, internet security firm Kaspersky Labs reported that crypto-related attacks would increase as the world begins to emerge from the coronavirus era.

The company’s report expects economies to sputter into the near future. This will leave many in poverty and unable to fend for themselves. Most of these people could turn to cyberattacks, focusing their efforts on both large and small corporations.

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