Mr Burgess (ASIO Director General Mike Burgess) referenced an unnamed Australian company that found global success making a product "similar to a motion detector" before their sales suddenly dropped.
"A little while later, their product started being returned to the factory because they were broken," he said.
"When they opened their branded products, they discovered they weren't their branded products, because the components were inferior, they were exact knock-offs."
The problem was eventually traced to an international conference, where someone had offered to share information with one of the company's employees by plugging a USB into their laptop.
"That USB downloaded malware onto that laptop, which later on, when they were connected back to their corporate network, was used to steal their intellectual property," he said.
"That intellectual property was passed from the intelligence services to state-owned enterprise that mass-produced the goods and sold them on the market that undercut them." more
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Extra USB Spy News - Government entities in the Asia-Pacific (APAC) region are the target of a long-running cyber espionage campaign dubbed TetrisPhantom. "The attacker covertly spied on and harvested sensitive data from APAC government entities by exploiting a particular type of secure USB drive, protected by hardware encryption to ensure the secure storage and transfer of data between computer systems," Kaspersky said in its APT trends report for Q3 2023. more