Following the news the Atlanta cyber attack has had a more serious impact on the city’s ability to deliver basic services than previously understood, a city official said at a public meeting on Wednesday, as she proposed an additional $9.5 million to help pay for recovery costs. In April, it was reported that the city had (only) spent $2.6 million on effort to respond to the attack. Ilia Kolochenko, CEO at High-Tech Bridge commented below. Ilia Kolochenko, CEO at High-Tech Bridge: “In light of the shocking facts around the incident that virtually paralyzed the entire city, I think that the true problem is…
ISBuzz Team
South Korea-based cryptocurrency exchange Coinrail announced on Sunday a cyber-incident during which an intruder made off with a large amount of ICO tokens stored on the company’s servers. The exchange announced the hack via a message on its website where it admitted a hacker stole tokens issued during the initial coin offerings of Pundi X and Aston, which were being traded at the time on its servers. Andy Norton, Director of Threat Intelligence at Lastline commented below. Andy Norton, Director of Threat Intelligence at Lastline: “The cryptocurrency marketplace is immature and provides very little in terms of safeguards to investors. It’s extremely unlikely that cyber security controls inside a cryptocurrency…
Information on the fallout from the recent Atlanta ransomware attack is emerging, following a public budget meeting–including that years of police dashcam footage have been “lost and cannot be recovered.” Reports state that ⅓ of all software used by the city has been affected by the attack, and that it has assigned a whopping $9.5 million (£7.1 million) to fund its recovery efforts. Security experts commented below. Gijsbert Janssen Van Doorn, Technology Evangelist at Zerto: “Without a data hostage, there is no ransom – that’s the technology mindset organizations, and city authorities such as Atlanta, need to adopt to protect themselves from…
39%EfficientIP 2018 DNS Threat Report proves European organizations suffer most from global network attacks EfficientIP, a leading specialist in DNS security to ensure service continuity, user protection and data confidentiality, revealed the European results of its 2018 DNS Threat Report. The research explored the technical causes and behavioral responses towards DNS-based threats and their potential effects on businesses across the world. Globally, 77% of organizations faced DNS attacks in the past year with each attack costing European businesses an average of €734,000. The consequences of not securing DNS increases the risk of data loss, service downtime, compliance failure or compromised…
40,000 machines at more than 9,000 organizations have been infected with a traffic manipulation and cryptocurrency mining campaign known as Prowli, which is siphoning off power from devices to acquire cryptocurrency according to researchers at Guardicore Labs. Alex Calic, Chief Strategy and Revenue Officer at The Media Trust commented below. Alex Calic, Chief Strategy and Revenue Officer at The Media Trust: “The campaign was likely made possible through an attack on a digital third party with weaker security measures, which we see more often than brute force attacks. The hackers utilized code that invokes calls to a compromised command and…
It’s been 5 years since Edward Snowden leaked confidential documents to The Guardian and Washington Post before going on the run and eventually entering Russian territory. Ken Spinner, VP at Varonis commented below. Ken Spinner, VP at Varonis: “Five years ago, Edward Snowden become a household name. Whether you think he’s a hero or a traitor, the impact of the leaks changed security by releasing a variety of powerful exploits into the hands of attackers. Years later, which is ancient history in cybersecurity years, many organizations are still catching up with spotting and stopping insiders from abusing their privileges. Companies…
Following the news that Amazon and eBay are among retailers pulling a brand of cuddly smart toys from sale after warnings they pose a cyber-security threat, Keiron Shepherd, Senior Security Systems Engineer (UK & I) at F5 Networks commented below. Considering the regulations and laws in place to safeguard children’s privacy, consumers might assume electronic devices and connected toys are safe, but instead they pose a serious privacy risk. With each new cyber threat brought to light, it becomes more clear that we cannot trust manufacturers to take care of our security. Keiron Shepherd, Senior Security Systems Engineer (UK & I) at F5 Networks: “The CE certification…
Following this morning’s story that the regulation of privately owned drones is in a state of “chaos”,David Emm, Principal Security Researcher at Kaspersky Lab commented below. David Emm, Principal Security Researcher at Kaspersky Lab: “The use of drones is becoming more widespread – and whilst this benefits organisations and businesses, it presents lots of dangers to consumers, and – unless managed effectively – marks a potentially worrying development for our society. These devices are small and unobtrusive and could monitor us without being seen, thus severely impacting our privacy. The current state of drone activity highlights the importance of regulating drones for…
Analysts at the Gartner Security and Risk Management Summit contend that any amount of defensive effort by companies will not be enough to thwart all cyberattacks. Gartner analysts say the best companies can do is limit their cyber exposure. Justin Jett, Director of Audit and Complaince at Plixer commented below. Justin Jett, Director of Audit and Complaince at Plixer: “With a huge payoff driving hackers, as Gartner analysts confirm, it is not a matter of if a company will be hit, but when. Companies need to limit their cyber-exposure all the way down the supply chain, and they need a…
It’s no secret Facebook has been under fire for the misuse of tens of millions of Facebook users’ private data. Facebook reportedly has had partnerships with at least 60 device makers — including Apple, Amazon, BlackBerry, Microsoft and Samsung — over the last decade, which allegedly began before Facebook apps were widely available on smartphones. According to a recent NYT report, “The company views its device partners as extensions of Facebook, serving its more than two billion users, the officials said. These partnerships work very differently from the way in which app developers use our platform,” said Ime Archibong, a…