Tag: cyber funding
Elon Musk Blames ‘Massive Cyberattack’ for Widespread X Outage – March 10th
Social media platform X suffered a major outage on March 10, with tens of thousands of users unable to access the site. Owner Elon Musk blamed the disruption on a "massive cyberattack," suggesting that a well-funded group or nation-state may have been involved. The outage, which peaked around 10 a.m. EST, affected both the X app and website, with intermittent service disruptions continuing throughout the day. As frustrated users flocked to alternative platforms like Threads and Bluesky, concerns grew over the security of X’s infrastructure.
Adobe Applies Patches to Critical Flaws – June 12th
Yesterday, June 11th, Adobe announced that they rolled out security patches for 6 critical vulnerabilities affecting Adobe After Effects, Photoshop, and Illustrator. According to Adobe, the vulnerabilities could have led to successful arbitrary code execution and/or memory leaks in the current user's context.
Bangladeshi Police Officer Caught Selling Citizen Data on Telegram – June 6th
In late April, the Brigadier General of Bandladesh's NTMC announced that two police officers had been caught selling citizen data on Telegram. Bangladeshi officials said the data allegedly sold included national identity details of citizens, cell phone call records, and other “classified secret information.”
34% of Organizations Lack Cloud Cybersecurity Skills – May 29th
According to a Cado Security report, 34% of organizations lack cloud cybersecurity skills. The report also discloses that 23% of cloud alerts remain uninvestigated due to various challenges and complexities.
341% Rise in Advanced Phishing Attacks – May 22nd
SlashNext's report revealed a 341% increase in malicious phishing links, business email compromise (BEC), Quishing, and attachment-based threats in the past six months. "The State of Phishing 2024" report also states that malicious email and messaging threats have increased by 856% over the past 12 months, amplified by the emergence of generative AI.
Rubrik listing underlines strength of cyber sector
The cyber sector has received another boost with the initial public offering (IPO) of shares in Microsoft-backed cloud-based cybersecurity firm Rubrik, valuing the company at around $6.5 billion. Last week also saw that US private equity (PE) firm Thoma Bravo is to take UK cybersecurity company Darktrace private in a deal valuing the firm at over $5 billion. Orders for Rubrik’s IPO were reported to be oversubscribed for 20 times the 23.5 million shares on offer, with half of the shares allocated to top institutional investors. This investor appetite for the cyber stock is being seen as a testimony to the robustness of the cybersecurity sector, as Rubrik posted operating losses of $307 million last year. But it is the company’s current growth curve that seems to have spurred on investors, with annual recurring revenues reported at $784 million as of the end of 2023, up 47% on the year before.
Change Healthcare Hit by Another Potential Cyber Attack – April 9th
Arriving just a month after a paid ransom was demanded following the massive data breach in February 2024, Change Healthcare reported on another potential cyberattack: extortion from the "ransomhub" group. Initiated by the new "ransomhub" group, with suspected connections to BlackCat, the double-extortion claim has yet to be confirmed by cybersecurity experts.
‘INC Ransom’ Group Threatens to Release NHS Data – March 28th
The 'INC Ransom' ransomware group publicly threatened to release three terabytes of NHS Scotland sensitive patient and staff data, after publishing a smaller sample size proving the viability of the threat. NHS Dumfries and Galloway's efforts to prevent the attack from being repeated are underway in collaboration with Police Scotland and the National Cyber Security Centre (NCSC).
New Sophisticated Attacks Demonstrated by Disney+ Impersonators – December 6th
Abnormal Security published a study revealing a Disney+ impersonation attack, demonstrating never-before-seen phishing tactics. The cybercriminals initiated the impersonation attack through an auto-generated notification email, about pending charges for their Disney+ subscription. The emails also demonstrated customized PDFs, with legitimate numbers & emails, inflated charges, and believable branding.
Syrian group behind RAT malware – August 24th
The malicious threat actor behind CypherRAT and CraxsRAT malware has been unmasked as the Syrian threat actor, EVLF. These RATS allow an attacker to control a victim's device's location, camera, and microphone.
Weak cyber M&A activity shows significant slowdown – August 21st
Crunchbase News reported that “The first seven months of the year saw only 34 cyber startups get acquired,” compared to a high of 123 in 2021 and a significantly reduced 82 last year. Rising interest rates and geopolitical tensions that have already hit the tech sector hard are now clearly putting a damper on M&A activity in cyber.