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TSMC Cyberattack: LockBit Demands a Ransom of $70m


Taiwan Semiconductor Manufacturing Company (TSMC) accused one of its equipment suppliers for its LockBit breach that, that has emerged in the on the gang’s dark web victim blog. Apparently, the ransomware has demanded a whopping $70 million ransom demand./ Without disclosing the type of data hacked, the corporation has named the affected third-party supplier as Kinmax Technology, a system integrator with offices in Taiwan.

TSMC stated on the issue, saying "TSMC has recently been aware that one of our IT hardware suppliers experienced a cybersecurity incident, which led to the leak of information pertinent to server initial setup and configuration." The company confirms that no customer data has been exposed in the breach.

“After the incident, TSMC has immediately terminated its data exchange with this concerned supplier in accordance with the company’s security protocols and standard operating procedures,” the statement added.

One of the affiliates of LockBit, National Hazard Agency shared screenshots of directory listings of stolen TSMC files on their leak website on Thursday, giving them a deadline of August 6 to pay the ransom amount. However, the ransomware gang did not reveal details of the amount of data it stole from the company.

The blog also gave the company an option to extend the said deadline by 24 hours for $5,000, or to delete all stolen content or download it immediately for $70 million.

Kinmax Issues an Apology

Kinmax Technology expertise in networking, cloud computing, storage, security and database management. The company claims to have experienced a breach on 29 June, stating “internal specific testing environment was attacked, and some information was leaked.” The leaked information included “system installation preparation that the company provided to our customers,” Kinmax said.

LockBit Emerges Again

LockBit is a Russian ransomware gang that first came to light in year 2019. As of the first quarter of 2023, it has a total of 1,653 alleged victims, as per a report released by US cybersecurity firm CISA.

According to the report, since its first known attack in January 2020, the cybercrime group has gathered nearly $91m in ransoms from US victims.

LockBit has also been a reason for a number of high-profile cyberattacks in the UK. This year, the gang has been responsible for the popular Royal Mail attacks, where it demanded a ransom of $80m in Bitcoin. The company however did not pay the ransom, deeming the demand as “ridiculous.” The ransomware gang then responded by exposing the data online, along with the copies of the negotiations held between LockBit and the Royal Mail representatives.

The ransomware gang was also responsible for stealing data from WH Smith, a high-end retailer in the UK. The attack was directed at present and former employees' personal information. Since then, there has been no information indicating whether the business has paid the ransom.