Foxconn Company Got Attacked With A BTC Ransomware Worth $34M

Multinational technology company Foxconn has just been attacked with a ransomware attack where the attackers demanded $34 million in BTC. The ransom group dubbed DoppelPaymer said they have encrypted the company files and destroyed backups so let’s find out more in the latest Bitcoin scam news.

DoppelPaymer is demanding 1,804 Bitcoin from Foxconn in order to provide the company with a decryption tool. Multinational companies became the main target of cyberattacks this year. Foxconn is a publicly-traded electronics and tech company based in Taiwan and recently It was hit by a ransomware attack on November 29 according to the data from the information news outlet Bleeping Computer.

The hackers responsible for the attack said that they encrypted data that is related to the North American operations and told Foxconn to pay about 1,804 BTC that is worth $34.5 million for a decryption tool. The Ransom note from the hackers which is a group known as the DoppelPaymer, stated:

 “If no contact made in 3 business days after the infection[,] first portion of data will be shared to the public.”

Given that the headline was last week, Foxconn reached out to the hackers but that’s the only information that we have regarding the contact. The attack hit the tech giant’s Mexican facility for electronic assembly and shipping and in an interview with Bleeping Computer, DoppelPaymer said that it encrypted about 1200 and 1400 servers but also destroying up to 30 TB of backups. It doesn’t necessarily carry BTC on its balance sheet but FoxConn is familiar with the technology behind BTC. It invested in a blockchain startup like Abra which is a crypto investment platform as well as the digital identity company Cambridge Blockchain.

The IT security company BlackFog, recorded about 28 ransomware attacks in November alone including the one against Mattel toy company, the Baltimore Public School, and Manchester United Football Club. Depending on the data, it could be cheaper to ignore DoppeLpaymer since according to a new research, on average it costs attacked companies twice as much to pay the ransom as it does to get the data back.

As recently reported, CAPCOM gaming giant got hit with a ransomware attack with the hackers demanding more than million in BTC to let them recover 2TB of stolen sensitive data.
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