Acer Under Serious Ransomware Attack of $50 Million

The famous Taiwanese multinational electronics and hardware corporation named Acer had been hit by ransomware where the hacker group had demanded $50 million. It is suspected that the hackers may have stolen confidential data from the electronics manufacturer.

The REvil ransomware gang is mentioned to have caused this security breach, and now the gang is demanding more than USD 50 million from Acer. This information had been revealed by various reliable sources, including Bleeping Computer. The report also mentioned that the hackers might have accessed the database by compromising the Microsoft Exchange Vulnerability’s security in the bid to access the company’s insider network. Engadget had mentioned in its report that this ransomware attack is counted as one of the largest ever data breaches bearing a high ransom demand of $50 million from the company.

The giant multinational computer hardware company, Acer, had reported having earned more than $3 billion in the last quarter of the financial year 2020. They cannot accept this level of a security breach. Nevertheless, the hacker group compromising Acer is the same group behind the ransomware attack of Travelex, where they had demanded a ransom of $6 million in 2020.

The malicious hacker group had also posted some images of the dark web portal as evidence via which they had gained access to the company’s network in the current week. Engadget, in its report, had mentioned that the ransomware group limited the ransom payment deadline to the 28th of March, 2021. They had threatened to leak the company’s highly confidential data on the internet if they declined the ransom payment within the stipulated time.

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Image: Security Affairs

Some reports had reported that Bleeping Computer had witnessed the discussion between the REvil Ransomware group and Acer representatives. The hackers have also offered a flat 20% discount on the demanded ransom if Acer pays out the amount past the 24th of March, 2021 (Wednesday). 

However, Acer denied calling it a ransomware attack and had let Bleeping Computer know in a statement that they had spotted some of the abnormal activities to the relevant data protection and law enforcement authorities in various countries. 

As per Engadget, the Andariel cyber intelligence firm had connected the Acer security breach with Microsoft Exchange Vulnerability. Recently, Microsoft has released four new patches for the Exchange Vulnerabilities. It is believed that the Chinese had been those behind these cyberattacks involving the flaws of Microsoft Exchange. The other hacker groups like REvil had taken advantage of the same incident asking to payout hefty ransom from Acer worth $50 million.

The decision of Acer whether to pay out the ransom or avail the 20% discount within the stipulated time is yet to be known.

Source: Tech Story


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