On August 12, 2024, the Australian Securities Exchange (ASX) reported that Evolution Mining Limited, a gold mining company, experienced a ransomware attack on August 8, 2024, which affected its IT infrastructure to some extent.
The company has engaged security experts to thoroughly investigate the breach. In a statement, Evolution Mining assured that the spread of the malware has been contained and that the impact on its operations is expected to be minimal.
In accordance with government protocols, Evolution Mining has contacted the Australian Cyber Security Centre (ACSC) and the Australian Signals Directorate (ASD). Further updates will be provided as the situation develops.
According to the ASD Cyber Threat Report from November 2023, Australia saw over 94,000 cybercrime incidents last year—a 23% increase from 2022. The average financial loss for businesses was $71,600, not including costs for data restoration.
Over the past three years, the Australian government, led by Prime Minister Anthony Albanese, has faced significant pressure to safeguard national infrastructure amid growing threats from nations such as China and Russia. The situation intensified when Australia began supporting Ukraine in its conflict with Russia by providing essential supplies and artillery. Since this support began in February 2022, there has been a notable rise in cyber-attacks targeting Australia’s critical infrastructure.
Despite various amendments to digital security laws, protecting public and private entities from these sophisticated cyber threats remains a challenge. Businesses are encouraged to adopt proactive measures to defend against increasingly advanced cyber-attacks. With the advent of Generative AI, hackers are now leveraging this technology to create more sophisticated malware and spread disinformation.
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