Crypto Hackers Steal $120 Million After Hacking DeFi Site BadgerDAO
(Photo : by NICOLAS ASFOURI/AFP via Getty Images) (FILES) In this file photo taken on August 04, 2020, Prince, a member of the hacking group Red Hacker Alliance who refused to give his real name, uses his computer at their office in Dongguan, China's southern Guangdong province. - As the number of online devices surges and super-fast 5G connections roll out, record numbers of companies are offering up to seven-figure rewards to ethical hackers who can successfully attack their cybersecurity systems.

Chinese ransomware hackers attack the major energy network of CS Energy, which powers a whopping three million households in Australia.

Crypto Hackers Steal $120 Million After Hacking DeFi Site BadgerDAO
(Photo : by NICOLAS ASFOURI/AFP via Getty Images)
(FILES) In this file photo taken on August 04, 2020, Prince, a member of the hacking group Red Hacker Alliance who refused to give his real name, uses his computer at their office in Dongguan, China's southern Guangdong province. - As the number of online devices surges and super-fast 5G connections roll out, record numbers of companies are offering up to seven-figure rewards to ethical hackers who can successfully attack their cybersecurity systems.

The cyberattack could have potentially shut down power to the millions of homes in the region, as per the report by News.com Australia.

Chinese Ransomware Attacks Major Energy Network

The CEO of CS Energy, Andrew Bills, said in a statement that the cyber attack against its major energy network is a worrying and "growing trend."

The power firm attributed the massive cyber attack to hackers from China. However, it did not disclose any more details about the ransomware gang behind the incident.

Chinese Ransomware Potential Power Shut Down

The cyberattack believed to have been done by Chinese hackers could have taken out a whooping 3,500 megawatts of power from the two massive thermal coal plants in the region.

That said, the potential extent of the attack could have affected around 1.4 million to about three million homes.

Power Outage Avoided

According to the news story by 7News, the CEO of the energy firm further noted that the hacking incident did not result in any power outage due to the rapid response of its employees.

Bills said that "this incident may have affected our corporate network, but we are fortunate to have a resilient and highly skilled workforce."

The CS Energy boss went on to praise the employees of his firm, noting that they worked the extra mile to ensure that Queenslanders will not experience any massive power outage.

The CEO added that the firm was able to "quickly contain this incident by segregating the corporate network from other internal networks," including those from the Kogan Creek and Callide power station.

As such, the generators of the power network have not been affected by the hacking incident.

However, the ransomware attack still affected the internal emails of the energy firm. The cyberattack reportedly prevented its workforce from accessing its inboxes.

On top of that, CS Energy went on to notify the relevant government agencies, along with experts in cyber security cases such as this.

Read Also: US Military Fights Against Ransomware: Cyber Crime is Massive in the Country, Needing More to Fight Against It

Ransomware: A Growing Trend

The victim of the attack further said in a statement that ransomware events have been "a growing trend" not just in Australia, but also in other parts of the world.

In fact, the Home Affairs Minister of Australia, Karen Andrews, already said previously that cybersecurity has become her "number one priority."

Even in the United States, ransomware attacks have gone into affecting necessities like meat supply and fuel--among other massive industries, by hacking their IT systems.

Related Article: NCSC's New Cybersecurity Reports Shows Evolving Ransomware Attacks Not Being Taken Seriously-Businesses Now Warned

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Written by Teejay Boris

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