The ransomware group LockBit has claimed that they have hit TSMC, the Taiwan Semiconductor Manufacturing Company, with a ransomware, releasing on their website that they will release stolen information on an established deadline of August 6th should they not receive payment. TSMC is the largest dedicated semiconductor company in the world, and is also Taiwan’s largest company. The Taiwanese Federal Government is the largest shareholder of TSMC.
LockBit Group is a ransomware group that operates a ransomware named “LockBit” which is both operated by themselves, as well as people whom they sell it to, advertising it as “the fastest encryption software all over the world”. The group hit Royal Mail, a British postal service, with an attack in January of 2023. The ransomware finds gaps in its targets security, and then installs the targets software before encrypting the files, rendering them unusable to the original holder.
Ransomware attacks oftentimes demand payment in cryptocurrencies, as they are more difficult to trace.