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
WebAuthn, FIDO2 Infuse Browsers, Platforms with Strong Authentication
John Fontana, Standards & Identity Analyst, Yubico,  9/19/2018
Turn the NIST Cybersecurity Framework into Reality: 5 Steps
Mukul Kumar & Anupam Sahai, CISO & VP of Cyber Practice and VP Product Management, Cavirin Systems,  9/20/2018
NSS Labs Files Antitrust Suit Against Symantec, CrowdStrike, ESET, AMTSO
Kelly Jackson Higgins, Executive Editor at Dark Reading,  9/19/2018
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
Flash Poll
The Risk Management Struggle
The Risk Management Struggle
The majority of organizations are struggling to implement a risk-based approach to security even though risk reduction has become the primary metric for measuring the effectiveness of enterprise security strategies. Read the report and get more details today!
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2018-17321
PUBLISHED: 2018-09-22
An issue was discovered in SeaCMS 6.64. XSS exists in admin_datarelate.php via the time or maxHit parameter in a dorandomset action.
CVE-2018-17322
PUBLISHED: 2018-09-22
Cross-site scripting (XSS) vulnerability in index.php/index/category/index in YUNUCMS 1.1.4 allows remote attackers to inject arbitrary web script or HTML via the area parameter.
CVE-2018-14889
PUBLISHED: 2018-09-21
CouchDB in Vectra Networks Cognito Brain and Sensor before 4.3 contains a local code execution vulnerability.
CVE-2018-14890
PUBLISHED: 2018-09-21
Vectra Networks Cognito Brain and Sensor before 4.2 contains a cross-site scripting (XSS) vulnerability in the Web Management Console.
CVE-2018-14891
PUBLISHED: 2018-09-21
Management Console in Vectra Networks Cognito Brain and Sensor before 4.3 contains a local privilege escalation vulnerability.