Cyber Incident Victim: Formosa Petrochemical Corp.
Date:
May 2020
Location:
Taiwan
Summary
Formosa Petrochemical Corp. experienced a malware attack impacting its computer systems, shortly after another major oil refiner faced a similar incident. The company shut down affected systems as a precaution, though refining and petrochemical operations continued without disruption. While gas stations remained operational and served customers normally, the attack temporarily prevented daily income calculations at those retail sites. No broader operational interruptions to core refining activities were reported.
| CIA Posture | Motives | Tactics, Techniques & Procedures |
|---|---|---|
| Available to members | 1 motive | 1 technique |
| Threat Actors | Type | Location |
|---|---|---|
| 0 actors | Available to members | Available to members |
Description
On May 5, 2020, reports emerged that Formosa Petrochemical Corp., a major privately held oil refiner in Taiwan, experienced a malware attack affecting its operations. This incident occurred one day after its state-owned competitor, CPC Corp., Taiwan, faced a similar cybersecurity event. The company confirmed it had proactively shut down its computer systems in response to the attack. Despite this disruption, Formosa Petrochemical’s core refining and petrochemical manufacturing activities remained operational and were not impacted by the incident. The attack primarily disrupted back-end systems supporting the company’s retail gas stations, impairing their ability to calculate daily income totals. However, all gas stations continued normal customer service operations, including fuel dispensing and transactions, without interruption.
The company’s containment strategy focused on isolating compromised systems to prevent further spread of the malware. No details were disclosed regarding the specific type of malware used, the initial attack vector, or whether data exfiltration occurred. Formosa Petrochemical did not specify whether the attack targeted specific geographic regions or all its retail locations. Financial impacts were limited to the temporary inability to generate daily revenue reports at gas stations, with no reported effect on production output or supply chain operations. The incident highlighted vulnerabilities in the company’s retail infrastructure while demonstrating resilience in maintaining critical industrial processes during the disruption. Taiwan News provided initial coverage of the event, though Formosa Petrochemical did not release additional technical details about the attack’s scope or duration.