Chinese spies have stolen Dutch chip maker ASML’s trade secrets: Report

In a shocking development, Dutch ASML‘ trade secrets have been stolen by Chinese spies in its U.S unit, causing millions of euros worth of damage, reports Het Financieele Dagblad.

As per the business newspaper, this was the largest espionage case ever at a Dutch company. According to the report, confidential information including source code, software and other details have been deciphered by senior Research and Development staff who allegedly has ties with the Chinese Ministry of Science and Technology.

Please keep reading..

As the coronavirus pandemic unfolds in the world, we at Silicon Canals are committed to...Show More

As the coronavirus pandemic unfolds in the world, we at Silicon Canals are committed to creating the biggest possible impact on the technology industry and startup ecosystem by bringing quality journalism to your devices. But today we rely on our readers to support us. We are asking you a big favour to make a contribution and support our editorial team to continue to investigate and write some insightful stories for you during these crisis times. We want to stand by you and do whatever it takes to bring the best news content to you.Our stories are free to read, exclusive, unbiased and always with an edge and with your financial support, we can keep the wheel spinning independently. Our online news platform is run by a small, independent publisher without any form of external capital or grants but still, we plan to stay here for long.We’d like to thank you in advance for your contribution! Each donation, however big or small, means a lot. Support Silicon Canals from as little as €10 – it will only take a minute. Thank you again.Show Less

Read more

It seems the perpetrators had access to the internal networks of the ASML establishment in San Jose in the United States for years. Notably, the confidential information was passed on to XTAL, a competitor of ASML, which was established in 2014.

Als we niet opletten worden we leeggeroofd. China heeft geen enkel respect voor het intellectueel eigendom van westerse hi-tech bedrijven en maakt zich schuldig aan staatsgeleide diefstal.https://t.co/zSuZMQhgRG

— Wybren van Haga (@WybrenvanHaga) April 11, 2019

Furthermore, the report from Het Financieele Dagblad added that the company would receive financial support from China, in an attempt to cement its position in the chip market. Having said that, with the stolen information, the company has already managed to hijack clients including Samsung.

The Dutch semiconductor-equipment maker said it discovered the perpetrators and took legal action. “This concerns a small part of our company in Silicon Valley where software programs for machine optimization are developed. There is no question of theft of blueprints, which would enable third parties to build a lithography machine,” ASML said.

Moreover, ASML spokeswoman said that the company could never find evidence linked to the Chinese government as such. Reportedly, the company was fined by a judge in the US state of California of 223 million dollars (206.3 million euros).

Stay tuned to Silicon Canals for more updates in the tech startup world.

5 advantages of joining a world-class accelerator to boost your startup’s growth

Working on next big innovation in health & nutrition?

How do we create a world where we can feed a population of 9 billion, and keep all those...Show More

How do we create a world where we can feed a population of 9 billion, and keep all those people healthy? Show Less

Read more