Cyberattacks | Breaking Cybersecurity News | The Hacker News

The cybersecurity threat landscape has witnessed a dramatic and alarming rise in the average ransomware payment, an increase exceeding 500%. Sophos, a global leader in cybersecurity, revealed in its annual "State of Ransomware 2024" report that the average ransom payment has increased 500% in the last year with organizations that paid a ransom reporting an average payment of $2 million, up from $400,000 in 2023. Separately, RISK & INSURANCE, a leading media source for the insurance industry reported recently that in 2023 the median ransom demand soared to $20 million in 2023 from $1.4 million in 2022, and payment skyrocketed to $6.5 million in 2023 from $335,000 in 2022, much more than 500%. This shocking surge is a testament to the increasing sophistication of cyberattacks and the significant vulnerabilities inherent in outdated security methods. The most significant factor contributing to this trend is a broad reliance on twenty-year-old, legacy Multi-Factor Authentic

In today's digital landscape, traditional password-only authentication systems have proven to be vulnerable to a wide range of cyberattacks. To safeguard critical business resources, organizations are increasingly turning to multi-factor authentication (MFA) as a more robust security measure. MFA requires users to provide multiple authentication factors to verify their identity, providing an additional layer of protection against unauthorized access. However, cybercriminals are relentless in their pursuit of finding ways to  bypass MFA systems . One such method gaining traction is MFA spamming attacks, also known as MFA fatigue, or  MFA bombing . This article delves into MFA spamming attacks, including the best practices to mitigate this growing threat. What is MFA spamming? MFA spamming refers to the malicious act of inundating a target user's email, phone, or other registered devices with numerous MFA prompts or confirmation codes. The objective behind this tactic is to o

As a vCISO, you are responsible for your client's cybersecurity strategy and risk governance. This incorporates multiple disciplines, from research to execution to reporting. Recently, we published a comprehensive playbook for vCISOs, "Your First 100 Days as a vCISO – 5 Steps to Success" , which covers all the phases entailed in launching a successful vCISO engagement, along with recommended actions to take, and step-by-step examples.  Following the success of the playbook and the requests that have come in from the MSP/MSSP community, we decided to drill down into specific parts of vCISO reporting and provide more color and examples. In this article, we focus on how to create compelling narratives within a report, which has a significant impact on the overall MSP/MSSP value proposition.  This article brings the highlights of a recent guided workshop we held, covering what makes a successful report and how it can be used to enhance engagement with your cyber security clients.

Ukrainian cybersecurity authorities have disclosed that the Russian state-sponsored threat actor known as  Sandworm  was inside telecom operator Kyivstar's systems at least since May 2023. The development was  first reported  by Reuters. The  incident , described as a "powerful hacker attack," first came to light last month, knocking out access to mobile and internet services for millions of customers. Soon after the incident, a Russia-linked hacking group called Solntsepyok took responsibility for the breach. Solntsepyok has been assessed to be a Russian threat group with affiliations to the Main Directorate of the General Staff of the Armed Forces of the Russian Federation (GRU), which also operates Sandworm. The advanced persistent threat (APT) actor has a track record of orchestrating  disruptive cyber attacks , with Denmark  accusing  the hacking outfit of targeting 22 energy sector companies last year. Illia Vitiuk, head of the Security Service of Ukraine'

Threat actors from the Democratic People's Republic of Korea (DPRK) are increasingly targeting the cryptocurrency sector as a  major revenue generation mechanism  since at least 2017 to get around sanctions imposed against the country. "Even though movement in and out of and within the country is heavily restricted, and its general population is isolated from the rest of the world, the regime's ruling elite and its highly trained cadre of computer science professionals have privileged access to new technologies and information," cybersecurity firm Recorded Future  said  in a report shared with The Hacker News. "The privileged access to resources, technologies, information, and sometimes international travel for a small set of selected individuals with promise in mathematics and computer science equips them with the necessary skills for conducting cyber attacks against the cryptocurrency industry." The disclosure comes as the U.S. Treasury Department  imp