Tag: dragos
OT cybersecurity puts $329 billion at risk
A staggering total of $329 billion is at risk globally because of poor cybersecurity applied to operational technology (OT) systems, which control facilities such as manufacturing and energy storage, according to cybersecurity company, Dragos. The days are long gone when OT systems from online hackers were protected by the airgap, effectively a digital moat where all data was transferred manually. Today OT systems are linked to online IT systems to facilitate communication and increase efficiency. But organisations relying on OT systems are now finding that they must now pay too high a price for these gains.
Ransomware attacks on industrial systems double in one year
Ransomware attacks on the operational technology (OT) and industrial control systems (ICS) that run industrial facilities almost doubled in 2024. According to Washington DC-based industrial cybersecurity company Dragos, ransomware attacks on industrial organizations in 2024 increased by a staggering 87 percent over the previous year. The main industries targeted were: electricity and water; industrial manufacturing; telecommunications; oil and gas; food and beverage; chemical manufacturing; mining, transportation, and logistics. Manufacturing, which accounted for 69 percent of all ransomware attacks targeting 1,171 manufacturing entities, was by far the worst hit.
Geopolitical crises fuel cyber-attacks in the US
As geopolitical tensions and conflicts rise across the globe, so are cyber-attacks on critical Western infrastructure, particularly industrial facilities running on operation technology (OT) systems. Ransomware attacks on industrial organizations increased by over 50 percent in 2023, according to a report by cybersecurity firm Dragos: OT Cybersecurity – 2023 in Review. Seventy percent of all ransomware attacks targeted 638 manufacturing entities in 33 unique manufacturing subsectors. Dragos tracked a total of 21 threat groups targeting industrial organizations including three new threat groups: Gananite, Laurionite, and Voltzite. Dragos reports all three new groups as conducting diverse operations against various organizations, including cybersecurity research firms, government and military defense entities, rail, manufacturing, automotive, and utilities. Voltzite has been the most active of the three in targeting critical infrastructure.
Cyber slowdown and major companies announce layoffs – August 17th
According to the Wall Street Journal, a trio of major cyber companies announced layoffs, further highlighting a slowdown in the sector, which though resilient, is starting to feel the impact of a wider downturn. Rapid 7, a Boston-based company, announced layoffs affecting 400 people, while Atlanta’s Secureworks cut 300, and Dragos let go of 50.