Floating Button
Home Digitaledge Cybersecurity

Stealing secrets: The real story of business espionage and how it’s evolving

Mark Trumble
Mark Trumble • 7 min read
Stealing secrets: The real story of business espionage and how it’s evolving
State-linked hackers and profit-driven spies are targeting Asia’s firms, stealing trade secrets through phishing and software flaws. Corporate espionage is evolving fast, and no business is immune. Photo: Unsplash
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

This is a true story.

A few years ago, the IT team of a large manufacturer of construction equipment spotted something suspicious during a routine check of their network logs (kudos to them for actually checking!). Computers in their R&D department were in “conversation” with an unknown internet address originating from Asia. In 24 hours, over two gigabytes of data headed out their door. They suspected industrial espionage, so they called the Verizon Threat Research Advisory Center (VTRAC).

Verizon’s VTRAC traced the breach to the company’s chief design engineer. The engineer fell victim to a supposed recruiter. The threat actor installed malware and a backdoor, communicating with a suspicious Chinese IP address. The attackers, likely a state-funded group, then precisely targeted and exfiltrated crucial design blueprints. The VTRAC Team pieced together this targeted social engineering and technical intrusion, confirming the theft of valuable intellectual property.

×
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2026 The Edge Publishing Pte Ltd. All rights reserved.