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HackedRansomware Strikes Taiwanese Semiconductor Company

Ransomware Strikes Taiwanese Semiconductor Company

Foxsemicon, one of Taiwan’s leading semiconductor manufacturers, has reportedly fallen victim to a cyberattack, and the notorious LockBit ransomware gang has claimed responsibility. The attackers took an unusual approach by defacing Foxsemicon’s website and issuing a threat to publish customers’ personal data on their darknet site unless a ransom is paid promptly. According to the ransom note, the hackers assert that they have gained access to a significant amount of the company’s data, amounting to five terabytes.

In a statement submitted to the Taiwan Stock Exchange, Foxsemicon confirmed the cyberattack and mentioned that it recovered its website soon after detecting the incident. The company is actively collaborating with security experts to address the situation. While the initial investigation suggests that the incident may not significantly impact the company’s operations, Foxsemicon’s website remains inaccessible, and the stock price has experienced a decline in the Taiwanese market.

The cyberattack on Foxsemicon is particularly noteworthy due to the unusual method employed by the LockBit gang. Typically, this group posts the names of victims on their extortion website rather than defacing the company’s web page. The hackers did not disclose the amount of the ransom they are demanding, leaving uncertainties about the potential financial impact on Foxsemicon.

The incident contributes to the broader trend of escalating cyberattacks targeting Taiwan, especially amid geopolitical tensions and the country’s recent presidential election. Taiwan has witnessed a substantial increase in distributed denial-of-service (DDoS) attacks, growing by 3,370 percent compared to the previous year, according to a recent analysis by Google Cloud. While LockBit is generally known for financial motives rather than geopolitical interests, the surge in cyber incidents adds another layer of concern to the cybersecurity landscape in the region.

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