The U.S., U.K. and their allies formally attributed the Microsoft Exchange hack to actors affiliated with the Chinese government and accused the Chinese government of a broad array of “malicious cyber activities,” escalating last week’s tensions between the White House and China. The group of nations said Monday that the Chinese government has been the… Continue reading U.S., U.K., Allies Tie Chinese Government to Microsoft Hack
Tag: ransomware
U.S. Plans to Counter Ransomware Attacks through Crypto Tracing
The Biden administration intends to crack down on the use of cryptocurrencies in ransomware attacks through more rigorous tracing of proceeds paid to hackers behind the disabling of companies, organizations and government agencies around the world, according to people familiar with the matter. In a virtual briefing with members of Congress on Wednesday, Deputy National… Continue reading U.S. Plans to Counter Ransomware Attacks through Crypto Tracing
Data Breaches Are Up 38% in Q2 2021: ITRC
Today, the Identity Theft Resource Center® (ITRC), a nationally recognized nonprofit organization established to support victims of identity crime, released its U.S. data breach findings for the first half (H1) of 2021. According to the data breach analysis, publicly-reported U.S. data breaches are up 38 percent in the second quarter (Q2) of 2021 (491 compromises)… Continue reading Data Breaches Are Up 38% in Q2 2021: ITRC
FBI Turns to Offense to Thwart Growing Threat of Cyberattacks
For the last several years, FBI agents debated turning the tables on hackers by remotely accessing breached computer networks and booting out the attackers caught in mid-hack. They got their chance earlier this year after state-backed Chinese hackers compromised thousands of private Microsoft Exchange email servers with the press of a button. In response, an… Continue reading FBI Turns to Offense to Thwart Growing Threat of Cyberattacks
Ransomware Claims Are Roiling an Entire Segment of the Insurance Industry
The recent surge of ransomware attacks is upending the cyber insurance industry, pushing up the requirements and cost of coverage just as more companies need it. Ransomware attacks — in which cybercriminals take over an organization’s computer network and demand a payment to hand back control — have increased in frequency and severity over the… Continue reading Ransomware Claims Are Roiling an Entire Segment of the Insurance Industry
U.S. Water and Power Are Shockingly Vulnerable to Cyberhacks
When the Los Angeles Department of Water and Power was hacked in 2018, it took a mere six hours. Early this year, an intruder lurked in hundreds of computers related to water systems across the U.S. In Portland, Oregon, burglars installed malicious computers onto a grid providing power to a chunk of the Northwest. Two… Continue reading U.S. Water and Power Are Shockingly Vulnerable to Cyberhacks
Ransomware and Aggregation Issues Call for New Approaches to Cyber Risk: AM Best
With the cyber risk hazard environment—ransomware, business interruption and aggregation—worsening significantly, prospects for the U.S. cyber insurance market are grim, according to a new AM Best report. The Best’s Market Segment Report, “Ransomware and Aggregation Issues Call for New Approaches to Cyber Risk,” notes that cyber insurance, which began as a diversifying, secondary line and… Continue reading Ransomware and Aggregation Issues Call for New Approaches to Cyber Risk: AM Best
White House Warns Companies to Step Up Cybersecurity Measures
The White House warned corporate executives and business leaders on Thursday to step up security measures to protect against ransomware attacks after intrusions disrupted operations at a major meatpacking company and the biggest U.S. fuel pipeline. There has been a significant hike in the frequency and size of ransomware attacks, Anne Neuberger, cybersecurity adviser at… Continue reading White House Warns Companies to Step Up Cybersecurity Measures
Cyberattack Shuts Down JBS U.S. Beef Plants
The largest global meat producer, JBS SA, was forced to shut down all its U.S. beef plants due to a cyberattack, cutting off output from facilities responsible for almost a quarter of American supplies. All of the company’s fed-beef and regional beef plants were forced to shutter, and all other JBS meatpacking facilities in the… Continue reading Cyberattack Shuts Down JBS U.S. Beef Plants
Cybersecurity Secrecy Keeps Doors Open for Hackers
Business is booming for cyber extortionists. DarkSide, the hacking group that shut down a key U.S. oil pipeline earlier this month, has collected over $90 million recently in hard-to-trace Bitcoin from 47 different victims, according to the blockchain analytics firm Elliptic. The pipeline hack ended only after Colonial Pipeline Co. paid nearly $5 million in… Continue reading Cybersecurity Secrecy Keeps Doors Open for Hackers