Hackers Demand as Much as $5 Million From Snowflake Clients

Cybercriminals are demanding payments of between $300,000 and $5 million apiece from as many as 10 companies breached in a campaign that targeted Snowflake customers, according to a security firm helping with the investigation. From a report: The hacking scheme has entered a "new stage" as the gang looks to profit from the most valuable information it has stolen, said Austin Larsen, a senior threat analyst at Google's Mandiant security business, which helped lead Snowflake's inquiry. That includes auctioning companies' data on illegal online forums to try to pressure them into making payments, he said. "We anticipate the actor to continue to attempt to extort victims," Larsen said. Snowflake, a cloud-based data analytics firm, said on June 2 that hackers had launched a "targeted" effort directed against Snowflake users that used single-factor authentication techniques. The company declined to comment on any specific customers.

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