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Many of these attacks took advantage of known vulnerabilities and security misconfigurations in storage and backup systems. And backup and storage systems are rife with unpatched CVEs. Organizations are being confronted on all sides by cyber-danger. Slow Gains on Storage and Backup Security.
Global cyberinsurance premiums are declining despite an uptick in ransomware attacks, according to a recent report by insurance broker Howden. This trend reflects improved business security practices, evolving insurance industry dynamics, and changing attitudes toward cyber risk management.
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Formed around 2016 to defend Ukraine’s cyberspace against Russian interference, the UCA used a public exploit for CVE-2023-22515 to gain access to Trigona infrastructure. Create offsite, offline backups. Keep backups offsite and offline, beyond the reach of attackers. However, this figure might not fully represent the situation.
lower than in Q3 2023. compared to Q3 2023. Figure 1: Number of compromised organizations listed on data-leak sites, Q4 2023–Q3 2024 In Q3 2024, new top contenders emerged, challenging LockBit’s dominance. However, some cyberinsurance policies explicitly forbid ransom payments.
Initial Access Broker (IAB) activity increased by 16% during the reporting period, heavily targeting US-based organizations due to perceived financial capability from cyberinsurance. ” APLHV disbanded in late December 2023 after conducting an exit scam against its affiliates.
Researchers reported that the median ransom payment rose from $199,000 in 2023 to $1,500,000 in 2024. Active since August 2023, Scattered Spider initially partnered with the ransomware-as-a-service (RaaS) group ALPHV (aka BlackCat) before shifting to RansomHub after ALPHVs disbandment.
The Pain of Double Extortion Ransomware divya Thu, 02/16/2023 - 06:10 Ransomware perpetrators are adopting more sophisticated attack techniques with much success. Ransomware attacks have become much more dangerous and have evolved beyond basic security defenses and business continuity techniques like next-gen antivirus and backups.
Cyberinsurers are losing money. Their loss ratios – total claims plus the insurer’s costs, divided by total premiums earned – are now consistently above 60%, which presents something of an existential threat to the insurance industry, making cyber risk a potentially uninsurable area due to falling profitability.
Initial Access Broker (IAB) activity increased by 16% during the reporting period, heavily targeting US-based organizations due to perceived financial capability from cyberinsurance. ” APLHV disbanded in late December 2023 after conducting an exit scam against its affiliates.
One possible solution, touted by former Department of Homeland Security Secretary Michael Chertoff on a recent podcast , would be for the federal government to step in and help pay for these sorts of attacks by providing a cyberinsurance backstop.
Obviously, organizations gotten smart to that and they started doing offline backups securing their backups differently, so that they would continue to have access and availability. By no means. Does that mean that there was no ransomware occurring? VAMOSI: Should you pay?
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