This website uses cookies to ensure you get the best experience on our website


08th Dec 2020
CryptoAltum Research Team

Foxconn Hacked, Attackers demanding $34 Million Ransom Payable in BTC

The Mexican facility of the Taiwanese electronics manufacturer and Apple partner, Foxconn was hacked on Nov 29. Hackers got access to the firm’s servers, stole 100 GB of unencrypted data files, deleted between 10 to 20 TB of backup data, and rendered 1,200 servers inaccessible. For decryption, the attackers are now asking for $34 million in BTC


In the digital age, vulnerabilities can be consequential. Foxconn is the latest to be compromised and has to pay $34 million in BTC for a decryption key should they want to unlock important company files. Although employee personal information and financial details of the company weren’t affected, hackers managed to maneuver through their security systems and now want BTC in return. With attackers infiltrating systems and asking BTC in return, the cryptocurrency’s reputation is dragged down giving law enforcement reasons to double down and call for regulations for them to crack down on cryptocurrencies.

Impact on the BTC Price: 

Neutral. Attackers demanding BTC in exchange for the files’ decryption negatively impacts the space’s reputation.

More market updates on our Blog 

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020