Attacks/Breaches

7/9/2018
11:00 AM
50%
50%

Chinese Wind Turbine Manufacturer Gets Max. Fine for Source Code Theft

Sinovel Wind Group has been sentenced for stealing trade secrets from the company formerly known as American Superconductor Inc.

The Sinovel Wind Group, a Chinese manufacturer and exporter of wind turbines, must pay the maximum fine for stealing trade secrets from AMSC, a US company previously known as American Superconductor Inc., the Department of Justice announced last week.

Sinovel had agreed to purchase $800 million in products and services from AMSC prior to the March 2011 theft. Instead of completing the sale, it launched an operation to steal proprietary AMSC software designed to regulate electricity flow from wind turbines to electrical grids. Evidence indicates Sinovel worked with AMSC Windtec Gmbh, a subsidiary of AMSC, to get hold of copyrighted information and trade secrets.

The Chinese company then used stolen intellectual property to build its own turbines instead of paying AMSC $800 million. Its actions cost AMSC more than $1 billion in shareholder equity and nearly 700 jobs – more than half its global workforce, the DoJ reports.

Read more details here.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
New Free Tool Scans for Chrome Extension Safety
Dark Reading Staff 2/21/2019
Making the Case for a Cybersecurity Moon Shot
Adam Shostack, Consultant, Entrepreneur, Technologist, Game Designer,  2/19/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
5 Emerging Cyber Threats to Watch for in 2019
Online attackers are constantly developing new, innovative ways to break into the enterprise. This Dark Reading Tech Digest gives an in-depth look at five emerging attack trends and exploits your security team should look out for, along with helpful recommendations on how you can prevent your organization from falling victim.
Flash Poll
How Enterprises Are Attacking the Cybersecurity Problem
How Enterprises Are Attacking the Cybersecurity Problem
Data breach fears and the need to comply with regulations such as GDPR are two major drivers increased spending on security products and technologies. But other factors are contributing to the trend as well. Find out more about how enterprises are attacking the cybersecurity problem by reading our report today.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-9037
PUBLISHED: 2019-02-23
An issue was discovered in libmatio.a in matio (aka MAT File I/O Library) 1.5.13. There is a buffer over-read in the function Mat_VarPrint() in mat.c.
CVE-2019-9038
PUBLISHED: 2019-02-23
An issue was discovered in libmatio.a in matio (aka MAT File I/O Library) 1.5.13. There is an out-of-bounds read problem with a SEGV in the function ReadNextCell() in mat5.c.
CVE-2019-9026
PUBLISHED: 2019-02-23
An issue was discovered in libmatio.a in matio (aka MAT File I/O Library) 1.5.13. There is a heap-based buffer overflow in the function InflateVarName() in inflate.c when called from ReadNextCell in mat5.c.
CVE-2019-9027
PUBLISHED: 2019-02-23
An issue was discovered in libmatio.a in matio (aka MAT File I/O Library) 1.5.13. There is a heap-based buffer overflow problem in the function ReadNextCell() in mat5.c.
CVE-2019-9028
PUBLISHED: 2019-02-23
An issue was discovered in libmatio.a in matio (aka MAT File I/O Library) 1.5.13. There is a stack-based buffer over-read in the function InflateDimensions() in inflate.c when called from ReadNextCell in mat5.c.