Tag Archive for: Boom

Kaseya Hack Ripples Across Europe as Ransomware Boom Escalates

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A ransomware attack disclosed last week by a Miami-based software provider spread to customers in six European countries, a company official said Thursday, showing how a hack targeting digital supply chains can quickly extend across industries and international borders.

A criminal hacking group used a Kaseya Ltd. product as a springboard to reach nearly 60 of the firm’s clients on July 2, the company said, launching a sprawling ransomware attack. After reaching those customers’ networks, hackers then jumped to their clients’ computer systems and locked up data of between 800 and 1,500 total victims, many of them small businesses.

Eight of Kaseya’s affected customers are in European countries, including the U.K., Netherlands, Germany, Sweden, Norway and Italy, said

Ronan Kirby,

president of the company’s Europe, Middle East and Africa unit. Cybersecurity experts say the tactics used to target the firm represent an escalation in the global ransomware boom and present new questions for businesses and policy makers racing to respond.

Mr. Kirby, speaking Thursday at a virtual event hosted by the Centre for Cyber Security Belgium, the country’s cyber authority, said Kaseya was a particularly appealing target because many of its customers are also technology-service providers with broad client bases of their own.

“You attack a company, you get into that company,” he said, adding that Kaseya’s own systems are secure. “You attack a service provider, you get into all their customers. You attack Kaseya, that’s a very different proposition.”

Kaseya said Thursday that it expects to release a patch for the software bug used by hackers to access its virtual system administrator product by Sunday…

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Boom Expected in Consumer Mobile Security App Market in Future

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“reporthive

The Global Consumer Mobile Security App market research report is primarily aimed at pointing out opportunities and challenges in the global industry. The report also highlights potential risks, threats, obstacles, and uncertainties in the marketplace and helps clients accurately intuit them and operate their business accordingly. The report covers a wide range of the global Consumer Mobile Security App market ranging from historical and current events to a futuristic point of the market. The report covers the post-COVID-19 (Corona Virus) impact in several major regions and countries and notes the future development of the industry.

This report of Consumer Mobile Security App provides a forecast and analysis of the global Consumer Mobile Security App market. Provides historical data for 2015 along with estimated data for 2021 and forecast data up to 2026, in terms of revenue (US $ Mn) and Volume (MT). The report also sheds light on macroeconomic indicators and provides an outlook for the Consumer Mobile Security App. It comprises drivers and restraints operating in the worldwide Consumer Mobile Security App market and their impact across all regions during the forecast period. The report also covers the study of existing industry trends and prospects for the Consumer Mobile Security App market. It also provides an understanding of value chain analysis. To provide users of this report with a comprehensive view of the market, we have considered a detailed competitive analysis, key players and their tactical description. The dashboard provides a detailed comparison of Consumer Mobile Security App manufacturers on parameters such as total revenue, product offerings, and key strategies. The study covers the analysis of the attractiveness of the market by type, grade, application and region.

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Main companies covered in this report: Symantec, Trend Micro, Dell, Trustgo, Sophos, Intel, AT & T, Check Point, Webroot, Trustgo, Sophos

The Consumer Mobile Security Apps report covers all the minute details related to the industry such as technological…

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Ransomware Boom Forces More Companies to Cut Deals With Criminals

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Kurtis Minder got into the ransomware negotiation business by accident early last year.

The startup he co-founded, GroupSense Inc., monitors dark web forums and chat groups to see when hackers sell access to businesses’ computer networks. After Mr. Minder’s firm told a software company that criminals appeared to have targeted it, the company asked GroupSense to talk down the attackers from an initial demand of more than $1 million to unlock internal data they had encrypted with ransomware. The two sides settled on a roughly $200,000 payout, he said.

GroupSense soon began fielding more such requests from victims’ law firms and insurance companies, which reached up to 10 a week by the end of last year. The company charges flat rates of $12,000 to $25,000 based on clients’ revenue.

“We did not jump in,” Mr. Minder said of the market for ransom negotiation, adding that it is a loss leader for his firm’s other services. “We got dragged in kicking and screaming, basically.”

The growing prevalence and complexity of ransomware has spurred a cottage industry of first responders to counter it. Startups have launched to communicate with hackers or transmit payments using cryptocurrencies, while large cyber companies have hired personnel or acquired specialty firms to help clients respond to and recover from such incidents.

Ransomware took on new prominence this month after a hacking group known as DarkSide targeted Colonial Pipeline Co. and forced a six-day shutdown of the largest conduit for fuel on the East Coast.

Colonial Pipeline Chief Executive Joseph Blount told The Wall Street Journal Wednesday he decided to pay the hackers about $4.4 million in bitcoin hours after receiving a ransom note.

A…

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Boom In Demand For Friendly Hackers As 5G Approaches

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As the number of online devices surges and superfast 5G connections roll out, record numbers of companies are offering handsome rewards to ethical hackers who successfully attack their cybersecurity systems.

The fast-expanding field of internet-connected devices, known as the “internet of things” (IoT) which includes smart televisions and home appliances, are set to become more widespread once 5G becomes more available — posing one of the most serious threats to digital security in future.

At a conference hosted by Nokia last week, “friendly hacker” Keren Elazari said that co-opting hackers — many of whom are amateurs — to hunt for vulnerabilities “was looked at as a trendy Silicon Valley thing six to eight years ago”.

The "internet of things" will provide cyber criminals with new ways to exploit faults in personal security systems The “internet of things” will provide cyber criminals with new ways to exploit faults in personal security systems Photo: AFP / NICOLAS ASFOURI

But “bug bounty programmes” are now offered by organisations ranging from the Pentagon and banks such as Goldman Sachs to airlines, tech giants and thousands of smaller businesses.

The largest bug-bounty platform, HackerOne, has 800,000 hackers on its books and said its organisations paid out a record $44 million (38.2 million euros) in cash rewards this year, up 87 percent on the previous 12 months.

“Employing just one full-time security engineer in London might cost a company 80,000 pounds (89,000 euros, $106,000) a year, whereas we open companies up to this global community of hundreds of thousands of hackers with a huge diversity in skills,” Prash Somaiya, security solutions architect at HackerOne, told AFP.

I see a lot of risk for misconfiguration and improper access control, these glitches are one of the main risks," Silke Holtmanns, head of 5G security research for cybersecurity firm AdaptiveMobile, told AFP “I see a lot of risk for misconfiguration and improper access control, these glitches are one of the main risks,” Silke Holtmanns, head of 5G security research for cybersecurity firm AdaptiveMobile, told AFP Photo: AFP / NICOLAS ASFOURI

“We’re starting to see an uptick in IoT providers taking hacking power seriously,” Somaiya said, adding that HackerOne now regularly ships internet-connected toys, thermostats, scooters and cars out to its hackers for them to try to breach.

“We already know from what has happened in the past five years that the criminals find very clever ways to utilise digital devices,”…

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