A Chinese cybersecurity company with links to the Communist Party government used its guns-for-hire hacking operation to target Australia, leaked documents from iSoon revealed.

Hackers have released 16,000 Tasmanian education department documents on the dark web including school children’s personal information, the state government has confirmed.

“The TikTok mobile application has been built with a culture that does not place privacy as a principle as most of the permissions and device information being collected are above necessary for the application to function,” a new report said.

According to AustCyber’s Australia’s Digital Trust Report 2020, a four-week digital disruption, such as a widespread cyberattack, would cost the economy up to $30 billion and 163,000 jobs.

As per researchers, access to websites for sale on MagBo is gained through "web shell malware", which hackers install on compromised servers.

The researchers developed a mathematical formula which tested the price elasticity of how much ransomware victims would be willing to pay.