Microchip Technology discloses cyber attack, business delays
August 21, 2024 – Published on TechTarget
Microchip Technology, Inc., disclosed it suffered a cyber attack last week that disrupted its ability to fulfill customer orders.
In an 8K filing Tuesday, Microchip president Ganesh Moorthy revealed the manufacturer detected suspicious activity in its IT systems beginning on Aug. 17. Two days later, Microchip Technology confirmed an unnamed threat actor had gained unauthorized access to the company’s network and disrupted servers.
Microchip confirmed the attack caused delays to business operations. The company manufactures microchips and microcontrollers, as well as memory, storage and embedded security products.
It’s unclear when manufacturing facilities will resume normal operations. The effects could be substantial as Microchip Technology is a large manufacturer with customers in critical infrastructure sectors. It serves 125,000 customers including organizations in the industrial, automotive, aerospace and defense, and computing verticals, according to its website.
Grayson North, principal security consultant at GuidePoint Security, told TechTarget Editorial the attack exhibits telltale signs of ransomware because it caused server and business operation disruptions. North added that according to GuidePoint data, the technology industry was the second most affected by ransomware groups in 2023.
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