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6:47 pm
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  • The IoT giant Advantech has become the latest victim of a severe cyber attack. Reportedly, Advantech has fallen prey to the infamous Conti ransomware attack where the hackers have demanded a whopping 750 BTC as ransom.


    Advantech Ransomware Attack


    The industrial IoT chip manufacturer Advantech has become the latest target of the Conti ransomware attack.


    As revealed by Bleeping Computer, the tech giant hasn’t revealed any official statement regarding the incident yet. However, the hackers’ activities have clearly hinted at how they targeted Advantech’s network.


    Apart from disrupting the victim’s databases, the hackers have also stolen the data. They began releasing small parts of the pilfered data on the dark web on November 26, 2020, as evidence of the attack.


    The hackers have demanded a huge ransom of 750 BTC from the vendors, which, as per the exchange rate at the time of writing, is over $13 million. They have demanded this ransom for not only providing the decryptor but also to delete all stolen data. Moreover, they have also generously offered to remove all backdoors from the firm’s network and share security tips with them.


    Nonetheless, there have been several instances in the past where ransomware threat actors didn’t delete pilfered data despite receiving the ransom amount.


    Besides, the hackers have threatened to release more of Advantech’s stolen data if the firm doesn’t contact the hackers.


    It’s presently unclear whether Advantech has made any move in this connection yet.