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Between March and June 2025, three Chinese state-sponsored threat actors conducted targeted phishing campaigns against the Taiwanese semiconductor industry. The campaigns targeted organizations involved in semiconductor manufacturing, design, testing, supply chain, and financial analysis. This activity likely reflects China's strategic priority to achieve semiconductor self-sufficiency and decrease reliance on international supply chains. The threat actors used various tactics including job application lures, investment collaboration pitches, and credential phishing. They deployed custom malware like Voldemort backdoor and HealthKick, as well as tools like Cobalt Strike. The targeting extended beyond semiconductor companies to include financial analysts specializing in the Taiwanese semiconductor market, indicating comprehensive intelligence collection efforts across the sector.

Between March and June 2025, multiple Chinese state-sponsored threat actors launched coordinated phishing campaigns targeting the Taiwanese semiconductor industry. These campaigns focused on organizations involved in semiconductor manufacturing, design, testing, supply chain management, and financial analysis related to the semiconductor sector. The attackers employed social engineering tactics such as job application lures and investment collaboration pitches to deceive targets into divulging credentials or executing malicious payloads. The malware arsenal included custom backdoors like Voldemort and HealthKick, alongside commercial penetration testing tools such as Cobalt Strike, enabling persistent access and lateral movement within compromised networks. The campaigns also targeted financial analysts specializing in the Taiwanese semiconductor market, indicating a broad intelligence-gathering effort aimed at understanding and potentially disrupting Taiwan’s semiconductor ecosystem. This activity aligns with China's strategic objective to achieve semiconductor self-sufficiency and reduce dependence on international supply chains. The threat actors leveraged multiple MITRE ATT&CK techniques including credential phishing (T1566), execution through user interaction (T1204), persistence mechanisms (T1547), and command and control communications (T1071), demonstrating a sophisticated and multi-faceted approach to espionage. No known exploits in the wild were reported, and the campaigns primarily relied on social engineering and custom malware deployment rather than exploiting software vulnerabilities.

Detailed information about Phish and Chips: China-Aligned Espionage Actors Ramp Up Taiwan Semiconductor Industry Targeting. Get real-time updates, technical det

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