TSMC Confirms Data Breach with USD 70 Million Ransom

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TSMC data breach report 1

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The Taiwan Semiconductor Manufacturing Company (TSMC) confirmed through an announcement that it has recently been hit by a cyber attack that resulted in a data breach. The company has assured that customer information is secure and that its operations have not been affected.

TSMC – Data Breach

A TSMC spokesperson revealed that the cyber security breach was related to the initial server setup and configuration. Upon learning this, the company terminated the data exchange with the supplier involved.

The compromised data came from Kinmax Technology, a provider offering IT solutions like cloud computing and storage management to the chipset manufacturer.

TSMC data breach report 1

LockBit, a blackmailing organization, is claiming responsibility for the breach and is demanding a ransom of USD 70 million. If it isn’t paid, the organization will release passwords and login information that were retrieved with the breach.

Despite the breach, the chipset manufacturer demonstrated its commitment to keeping its operations safe and protecting customer information by the immediate termination of the data exchange with the supplier. Additionally, it is collaborating with authorities and cybersecurity experts to investigate the incident.

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Ram found his love and appreciation for writing in 2015 having started in the gaming and esports sphere for GG Network. He would then transition to focus more on the world of tech which has also began his journey into learning more about this world. That said though, he still has the mentality of "as long as it works" for his personal gadgets.

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