
The cyberattack that at the beginning of May targeted and caused the shutdown of the Colonial Pipeline, the largest fuel pipeline in the US, was a powerful example of the threat posed by the rising number of ransomware attacks, and the detrimental effect they can have not only on businesses but on national critical infrastructure.
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The COVID-19 pandemic have forced businesses, governmental organisations, and private individuals to quickly shift the way they conduct daily activities. While technology has greatly aided during the COVID-19 pandemic, allowing people to stay connected, conduct business and access entertainment online, it has also brought a set of new challenges, in addition to exacerbating pre-existing ones. Since the beginning of the pandemic, the number of cyberattacks worldwide has increased significantly, leading experts to define the current situation as a ‘cyberpandemic’.
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Half of the stolen accounts are related to entertainment, gaming and online streaming sites Data thefts on social networks have seen a significant increase, reaching 31.8%. Email addresses and passwords are the most vulnerable data, with corporate accounts seeing a +27.8% increase in breaches. On the dark web, credit card numbers are almost always accompanied by the Card Verification Value and expiry date (98.6% of cases).
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On the Dark Web, different types of compromised information hold different monetary values, and the pricing scheme of data is influenced by a range of factors.
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The idea of a computer virus was first theorised by the mathematician John von Neumann in 1949, when he envisioned the possibility that a “mechanical organism”, such as a program, could reproduce itself and infect multiple hosts. The title of the first computer virus in history is attributed to a program called Creeper, created by Bob Thomas from BBN Technologies in 1971.
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Over the past year, ShinyHunters has become one of the most recognised threat actors among the hacking community, by carrying out sophisticated cyberattacks on over 40 online services across the world, and by selling the stolen information for profit.
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A statement released by Juspay on 5th January 2021 confirms that the Indian-based company has been the target of a cyberattack resulting in a large-scale data breach.
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On the 8 December 2020, prominent US-based cybersecurity company FireEye announced on its blog that they had been the victims of a cyber-attack. The nature of the attack has led to experts to theorise that it was carried out by a state-sponsored hacking group, currently believed to be Cozy Bear (also known as APT29).
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