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electricity meter | Breaking Cybersecurity News | The Hacker News

Ransomware Virus Shuts Down Electric and Water Utility

Ransomware Virus Shuts Down Electric and Water Utility
Apr 29, 2016
Ransomware has become an albatross around the neck, targeting businesses, hospitals , and personal computers worldwide and extorting Millions of Dollars . Typical Ransomware targets victim's computer encrypts files on it, and then demands a ransom -- typically about $500 in Bitcoin -- in exchange for a key that will decrypt the files. Guess what could be the next target of ransomware malware? Everything that is connected to the Internet. There is a huge range of potential targets, from the pacemaker to cars to Internet of the Things, that may provide an opportunity for cybercriminals to launch ransomware attacks. Recently, the American public utility Lansing Board of Water & Light (BWL) has announced that the company has become a victim of Ransomware attack that knocked the utility's internal computer systems offline. Also Read: FBI Suggests Ransomware Victims — ' Just Pay the Ransom '. The attack took place earlier this week when one of the compan

Hacking Smart Electricity Meters To Cut Power Bills

Hacking Smart Electricity Meters To Cut Power Bills
Oct 17, 2014
Smart devices are growing at an exponential pace with the increase in connecting devices embedded in cars, retail systems, refrigerators, televisions and countless other things people use in their everyday life, but security and privacy are the key issues for such applications, which still face some enormous number of challenges. Millions of Network-connected electricity meters or Smart meters used in Spain are susceptible to cyberattack by hackers due to lack of basic and essential security controls that could put Millions of homes at risk, according to studies carried out by a pair of security researcher. HACKERS TO CAUSE BLACKOUT AND BILL FRAUD The security vulnerabilities found in the electricity meters could allow an intruder to carry out billing fraud or even shut down electric power to homes and cause blackouts. Poorly protected credentials inside the devices could let attackers take control over the gadgets, warn the researchers. The utility that deployed the

Cybersecurity Tactics FinServ Institutions Can Bank On in 2024

Cybersecurity Tactics FinServ Institutions Can Bank On in 2024
Feb 14, 2024Financial Security / Cyber Threats
The landscape of cybersecurity in financial services is undergoing a rapid transformation. Cybercriminals are exploiting advanced technologies and methodologies, making traditional security measures obsolete. The challenges are compounded for community banks that must safeguard sensitive financial data against the same level of sophisticated threats as larger institutions, but often with more limited resources. The FinServ Threat Landscape Recent trends show an alarming increase in sophisticated cyber-attacks. Cybercriminals now deploy advanced techniques like deep fake technology and AI-powered attacks, making it increasingly difficult for banks to differentiate between legitimate and malicious activities. These developments necessitate a shift towards more sophisticated and adaptive cybersecurity measures. Take these industry statistics, for example. Financial firms report 703 cyberattack attempts per week.1 On average, 270 attacks (entailing unauthorized access of data, appl
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