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Compal The Second Largest Laptop Manufacturer In The World Hit By Ransomware
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Compal, The Taiwanese Giant Laptop Manufacturer Hit By Ransomware
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Practice problems to help you be prepared Choose any skill you want to practice from the many options available. See All Practice Problems In a nutshell: Hackers demand $17 million from Taiwan’s Compal Electronics. Over the weekend, attackers reportedly hit the laptop design company with DoppelPaymer ransomware. The company denied initial reports saying it was just a bug, but the recovered ransom seems to prove the reports were correct.
News outlets in Taiwan reported that original design manufacturer (ODM) Compal Electronics was hit by a ransomware attack on Sunday. Compal is the second largest laptop developer in the world. Some of the company’s clients include Apple, HP, Dell, Lenovo and Acer.
Compal deputy general manager Lu Qingxiong denied the reports on Monday, saying it was just a glitch in its office systems. Taiwan news agency UDN said:
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“Lu Qingxiong said that the main reason is the abnormality of the office automation system. The company is suspected of hacker intrusion. It has repaired most of the urgent and is expected to return to normal today. Lu Qingxiong emphasized that Compal is not in use. extortion by hackers as reported by the rest of the world and everything is normal in production at the moment.”
However, Bleeping Computer claims it received a ransom note from an unnamed source confirming that attackers did indeed hit Compal with ransomware. The readme file follows the format used by DoppelPaymer ransomware.
DoppelPayer has primarily been used for large corporate targets. After obtaining administrative credentials, the attackers gain access to a Windows domain controller and then distribute the ransomware to all network devices.
Digging into the payment page listed in the ransom note revealed that the hackers demanded $16,725,500 (1100 bitcoins) for the decryptor. The demand letter also mentioned that the group would release unencrypted files to one or more dark web sites if the company did not pay the ransom within 72 hours. In a year where the threat landscape is defined by vulnerabilities (ProxyLogon, Log4j) and supply chain attacks with a never-before-seen blast radius (SolarWinds, Kaseya), one threat has been steadily on the rise over the past few years and has dominated much of the cybersecurity conversation in both 2020 and 2021 – ransomware.
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While not new to the cyber threat landscape, the impact of ransomware on businesses has grown quite vicious in recent years, with reported cases of targeted businesses now paying ransoms in the millions.
According to FinCEN (the US Department of the Treasury’s Financial Intelligence Unit), there was $590M in activity related to breach readiness in the first six months of 2021 alone.
While the decades-long growth of cryptocurrency has undoubtedly fueled the frequency of ransomware attacks, recent trends such as double-blanketing, the rise of the ransomware-as-a-service (RaaS) business model, and successful “big-game” ransomware attacks have. all helped bring ransomware to the forefront of cyber threats, the daily IT debate online and global newsrooms.
When not discussing the latest reports of ransomware incidents or how many millions in ransom the latest victim paid, one question repeatedly comes up in discussions:
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The rocky road to building an effective new anti-ransomware response begins with understanding the recent evolution of the underground ransomware ecosystem, common ransomware targets, typical ransomware behaviors, common ransomware mechanisms, the construction and use of decryptors, and integration with defender protocols and tools.
Long gone are the romantic days of one hooded hacker typing frantically in a dark basement full of servers and wires. The cybercrime underground is a diverse ecosystem with experts in every possible field. Ransomware today operates similarly to all professional SaaS companies. And business has been booming.
Although the more widely accepted use of cryptocurrency has arguably fueled the incidence of ransomware attacks more than any other factor, another trend has emerged in recent years as attackers undoubtedly discovered that these methods yielded higher profit margins.
After WannaCry and NotPetya (2017), companies are putting more effort into improving data backup and recovery processes; Therefore, if any data was encrypted, the company could easily go back to business without having to pay the ransom. However, Maze (2019) and Sodinokibi (2020) encrypted and removed sensitive data, so that if the target company did not pay the ransom, the extracted data would be leaked or sold online. Other ransomware gangs quickly followed suit. Double extortion not only increases the attacker’s potential income, but also puts pressure on the victim to pay the ransom faster.
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Although not new to the threat landscape, the modern supply chain attack not only has a much larger blast radius, but also a much more severe impact than supply chain attacks of a decade ago. Solar Winds, Microsoft Exchange Server and Kaseya are all good examples of how a single attack on a supplier can directly affect thousands of their customers’ environments.
“Yes, this [targeting organizations that have cyber insurance] is one tasty morsel. Especially hacking insurers first – to get their customer base and work strategically from there. And after you go through the list, click on the insurer itself.
A single ransomware attack is rarely the work of a single group, nor is the appearance of a single type of ransomware or tool that immediately attributes the attack to said ransomware. A single ransomware attack could be run jointly by a number of independent groups or affiliates, each receiving a percentage of the ransom paid.
Each partner may be responsible for one aspect of the attack, such as initial access, ransom negotiation, money collection, money laundering, or targeting. Cyber criminals no longer have to be solely responsible for the entire attack, but can now outsource each phase of the cyber kill chain to partners to cut the profits. Even banking Trojans like Emotet and Trickbot have been exploited to distribute ransomware.
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Make no mistake. RaaS is a growing industry, with some experts estimating the total revenue of ransomware in 2020 to exceed 20 billion. While some RaaS groups simply sell their ransomware on the dark web, others more closely follow the SaaS service model and sell their ransomware to their affiliates for a cut of the profits.
Cybercriminal groups that do not have the time or resources to develop their own ransomware variants can act quickly and gain access not only to the ransomware itself, but also to an entire platform that covers many aspects of a ransomware attack, including negotiation, collection and/or laundering of the ransom. .
Our next stop on the road to ransomware resilience brings us to a recent trend in victim selection. Who does the ransomware target? Who is most at risk? Unfortunately, we didn’t have to travel too far.
Due to its rather prominent geographical position, Taiwan often encounters the most sophisticated, persistent and aggressive threats before the rest of the world.
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One example was when the Advanced Persistent Threat (APT) Chimera invested in a years-long attack campaign targeting Taiwan’s semiconductor ecosystem and then appeared in the EU the following year using the same tools and tactics.
These sophisticated threats – often state-sponsored, state-ignored or organized crime actors – typically focus their efforts on Taiwan to test their latest, most subtle and malicious tactics.
In recent years, ransomware attacks have increased in frequency and severity; in one case, ransomware was even used as a deceptive smokescreen technique to hide the attackers’ true goals in an attack on Taiwan’s critical infrastructure.
Below is a partial list of more serious and recent ransomware attacks with targets located in either Taiwan or Japan.
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Within this short time frame, we’re already seeing two main styles of ransomware emerge – traditional and big game.
For decades, ransomware wasn’t that profitable. Traditional ransomware usually focused on large-scale worldwide attacks without specific targets. Ransom fees would amount to hundreds of dollars and up
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