Confusion About $70M Ransom Demand: Kinmax or TSMC ?

"In the morning of June 29, 2023, the Company discovered that our internal specific testing environment was attacked, and some information was leaked," reads the Kinmax statement.
"The leaked content mainly consisted of system installation preparation that the Company provided to our customers as default configurations."

The Lockbit ransomware group claimed to have hacked chipmaker giant TSMC. TSMC stated its supplier Kinmax was attacked. Kinmax is not the corporate giant that TSMC is, so LockBit's demands for a $70 million ransom payment will likely be ignored.

While there appears to be a mixup as to who was compromised in this attack, the $70 million ransom demand is one of the largest seen to date.

Estimated Cost

No cost values disclosed.

Threat Source

Impacts

IT