Threat Actors Target Organizations in Thailand with Ransomware Attacks

Thailand is experiencing a significant escalation in ransomware attacks, with both state-sponsored advanced persistent threat (APT) groups and cybercriminal organizations zeroing in on key industries across the country.

The surge is underpinned by Thailand’s position as a burgeoning financial hub in Southeast Asia, its strategic geopolitical alliances, rapid digital transformation, and its critical role in global supply chains.

Threat intelligence for 2023 and into 2025 highlights an evolving and fragmented cyber threat landscape, marked by a substantial increase in ransomware campaigns, data theft, and espionage operations targeting Thai organizations.

Strategic Attractiveness and Sectoral Exposure

Thailand’s expanding financial sector, coupled with its integration in logistics and global production chains, renders it particularly vulnerable to financially motivated actors and nation-state adversaries.

The country’s status as a major player within ASEAN also positions it as a prime target for espionage and geopolitical surveillance.

Sectors such as energy, automotive, manufacturing, healthcare, and consumer services have been disproportionately affected, with threat actors seeking both economic advantage and strategic intelligence.

Notably, the tourism and hospitality sector has seen increased identity theft and financial fraud incidents, tied to the vast personal data within its ecosystem.

Supply chain vulnerabilities are exacerbated by Thailand’s reliance on foreign technology providers and its participation in large-scale initiatives such as China’s Belt and Road Initiative (BRI).

The country’s neutral stance in the escalating U.S.-China rivalry, its proximity to regional conflicts like those in Myanmar and the South China Sea, and ongoing defense partnerships further amplify its exposure to external cyber operations.

Gaps in regional cyber regulations and enforcement have made it easier for external actors to operate with relative impunity.

Ransomware Trends and Threat Actor Spectrum

Recent intelligence indicates a 240% year-over-year increase in cyber campaigns targeting Thailand in 2024, with ransomware emerging as a dominant vector.

CYFIRMA’s analysis shows that over 70% of threat actors originate from China and Russia, with North Korea also mounting significant financially motivated campaigns.

The prevalence of groups such as LockBit3, RansomHub, and Qilin illustrates the expansion of the Ransomware-as-a-Service (RaaS) ecosystem, while the observed re-emergence of activity post-international takedown operations (such as Hive and LockBit3) underscores the resilience and adaptability of these groups.

Web applications constitute the primary attack surface, followed by operating systems and databases, indicating sustained efforts to compromise core business infrastructure.

The use of advanced malware families including Cl0p, NukeSped RAT, Cobalt Strike, and PlugX RAT reflects a blend of ransom-driven extortion and state-linked espionage campaigns.

Over half of all observed attacks target information theft and espionage, with financial gain accounting for the remainder.

Ransomware incidents registered a notable 8.5% year-over-year increase, with confirmed Thai victims rising fivefold between 2022 and 2023.

Although early 2024 saw a temporary decline following high-profile law enforcement actions, threat activity quickly rebounded, driven by agile threat actor migration and the proliferation of new ransomware variants.

By April 2025, eight ransomware victims had already been confirmed signaling a persistent and elevated threat.

Industries most frequently affected include IT, consumer goods, manufacturing, energy, logistics, and government, directly correlating with their economic prominence and digital footprint.

Nation-state espionage has manifested in direct targeting of government, defense, and strategic enterprises, while localized Southeast Asian-based cybercriminals are demonstrating increasing sophistication in targeting domestic organizations.

This evolving landscape demands immediate, cross-sector investments in cyber resilience.

Executive engagement in incident response, business continuity planning, and proactive threat intelligence is critical to mitigating the operational risks posed by this sophisticated and multi-motivated array of adversaries.

With ransomware and espionage campaigns showing no sign of abating, coordinated public-private defense initiatives will be paramount to safeguarding Thailand’s digital future.

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