Ransomware Attacks Reveal Asia Supply Chain Risks

Supply chain attacks are significant due to their potential to cause widespread disruption across an industry, they can be difficult to detect and mitigate, and there can be a severe impact, both financially and reputationally following a supply chain attack due to loss of trust and reliability. A supply chain attack is a form of cyberattack that targets a trusted third-party, who offers software or services that are vital to the supply chain. The software supply chain is especially vulnerable due to the many elements that make up modern applications, such as third-party APIs, open-source code and additional dependencies. Threat actors specifically target certain companies in the supply chain to gain leverage and move laterally and gain access to more the hardened environments of larger companies. [1]  

Recently, on April 15, 2024, the ransomware group Hunters International listed the Taiwan-based electronics manufacturer Chicony Electronics on their dark web site, following an alleged ransomware attack. The ransomware group allegedly exfiltrated 1.2 terabytes of sensitive data. Chicony Electronics are the Original Equipment Manufacturer (OEM) for many major multinational manufacturers including GoPro, Google, Amazon and HP, signifying the interconnected nature of manufacturers and associated supply chain risks. [2] [3]  

Another instance, originating from last year, demonstrates the wide-reaching impact of an attack on a key part of the supply chain. In April 2023, Taiwanese gaming equipment giant MSI was allegedly attacked by the ransomware group Money Message, leading to the theft and public release of 528 GB of sensitive data, including Intel Boot Guard keys. Alex Matrosov, CEO and researcher at Binarly, highlighted the significant impact of this leak, noting that it also affected other manufacturers such as Lenovo and Supermicro. Additionally, the leak allegedly compromised products from HP, Lenovo, CompuLabs, and Aopen. [4]

These examples help to demonstrate supply chain risks, and how threat actors leverage supply chain attacks to impact additional companies. Black Room Intelligence provides comprehensive Third-Party monitoring of your Supply Chain monitoring against data breaches and potential attacks. With a quick and simple onboarding process, your entire supply chain could be monitored within hours, providing immediate peace of mind and assurance.    

References:

1. What is a supply chain attack? Crowdstrike. 2023 September 27. Available from: https://www.crowdstrike.com/cybersecurity-101/cyberattacks/supply-chain-attacks/

2. Ransomware Attack on Chicony Electronics: A Threat to Industry Leaders. Halcyon.ai 2024 April 15. Available from: https://ransomwareattacks.halcyon.ai/attacks/ransomware-attack-on-chicony-electronics-a-threat-to-industry-leaders

3. Chicony Electronics. Datanyze. 2024 Available from: https://www.datanyze.com/companies/chicony-electronics/7832108

4. Ransomware attack on MSI led to compromised Intel Boot Guard private keys. Threatdown. 2023 May 9. Available from: https://www.threatdown.com/blog/ransomware-attack-on-msi-led-to-compromised-intel-boot-guard-private-keys/

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