Conti Ransomware attacks Advantech, demands $13.8M in Bitcoin ransom

Taiwanese Advantech was recently attacked with Conti ransomware, which encrypted some of their data, demanding $13.8M as Bitcoin ransom.

By · Dec 1, 2020 . 6min read

Conti Ransomware attacks Advantech latest news

Ransomware attacks are rising increasingly. Moreover, Bitcoin and Monero is the preferable mode of payments among attackers. Conti ransomware gang recently attacked Taiwanese industrial computer maker Advantech. Advantech lost the maximum amount of data in a ransomware attack by the Conti ransomware gang. In accordance with the reports, the attackers are asking for millions of dollars in Bitcoin as a ransom. Precisely speaking, it is asking for over $13.8 million ransom (approximately 750 BTC) to circumvent leaking stolen files and to offer a key to re-establish the encrypted files. 

Intricate details about Taiwanese Advantech

Advantech is the largest supplier of industrial computers across the globe. Moreover, they also produce devices for healthcare and IoT solutions. Advantech has 8,000 employees globally. The company underwent an attack last week. The Conti Ransomware attackers claim to have obtained most of their data. They warned to publish them, besides the company complies with funding approximately 750 Bitcoin ransom, which is worth over $13.8 million at today’s price.

Following the attack, no payment has been transferred to the attacker by Advantech. As per the report, the computer maker is implying that the attack didn’t result in any significant loss. However, the servers had to suffer the impact of the attack. Advantech reiterates that attempts to redeem them are currently underway. Apart from the servers, other services did not suffer the magnitude of the attack. Moreover, its orders, productions, and product shipping are flowing regularly.

Owing to the delay in payment, the Conti ransomware attackers issued a tremendous amount of the stolen data (around 3-gigabyte data) on the leak site. The attackers claim that the released data only amounts to two percent of the complete stolen data. They are alarming to deliver even more if Advantech doesn’t bow down their Bitcoin ransom demand.

For the uninformed, Conti ransomware consists of unique characteristics like providing faster encryption than other types of ransomware. Conti ransomware is an heir to the better-known Ryuk ransomware and used by TrickBot botnet-linked operations.

Earlier, Ragnar Locker targeted Campari, an Italian liquor conglomerate, in a Ragnar Locker ransomware attack on Nov. 2. As Threat Post reported, the Ragnar Locker gang commenced their attack on the liquor company, which allowed them to steal about two terabytes (2TB) of sensitive data. The attackers hacked and encrypted the data, demanding about $15 million in Bitcoin.

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