This Week’s Top 5 Cybersecurity News Stories August 2024 | 03
Cybersecurity threats are evolving constantly as threat actors look to gain access to your data and money. To help you stay secure, we have searched the internet for the top five cybersecurity news stories of the week that we think you should be aware of. No story is too big or small, as we look at threats from espionage to security flaws in every day devices:
1. The AI Hangover is Here – The End of the Beginning
After a year of AI excitement, the market is now correcting its expectations, aligning with Gartner’s “trough of disillusionment.” While challenges remain, especially in cybersecurity and cost, AI is here to stay. Companies like Apple and Google are successfully integrating AI into consumer products, and consulting firms are increasingly focusing on AI projects. The technology’s future hinges on finding a market fit and addressing security concerns. For more about this story click here
2. How Phishing Attacks Adapt Quickly to Capitalize on Current Events
The surge in phishing attacks, impacting 94% of businesses in 2023, is attributed to the rise of generative AI and Phishing as a Service (PhaaS). AI simplifies the creation of phishing content and malware, while PhaaS enables swift, sophisticated attacks. Phishing now rapidly adapts to current events, like the CrowdStrike BSOD and major events like the Olympics, increasing its impact. For more about this story click here
3. DDoS Attacks Surge 46% in First Half of 2024, Gcore Report Reveals
In H1 2024, DDoS attacks surged by 46%, reaching 445K, with peak attack power increasing to 1.7 Tbps. The gaming and gambling industry remains the most targeted, while technology sector attacks doubled to 15%. Network-layer attacks predominantly affect gaming and telecom, while application-layer attacks disrupt financial services and e-commerce. Attackers increasingly personalize tactics, necessitating advanced, global defensive strategies to mitigate these evolving threats. For more about this story click here
4. China-Backed Earth Baku Expands Cyber Attacks to Europe, Middle East, and Africa
The China-backed threat actor Earth Baku, linked to APT41, has expanded its activities beyond the Indo-Pacific to target Europe, the Middle East, and Africa since late 2022. Targeting sectors like government, telecom, and healthcare in countries including Italy, Germany, and the UAE, Earth Baku has updated its tools and tactics. Key innovations include using IIS servers for entry, deploying advanced malware like StealthReacher and SneakCross, and leveraging services like Google for C2 communication and MEGA for data exfiltration. For more about this story click here
5. FBI Shuts Down Dispossessor Ransomware Group’s Servers Across U.S., U.K., and Germany
The FBI announced the successful disruption of the online infrastructure of the emerging ransomware group Radar/Dispossessor, which has been active since August 2023. The takedown involved servers in the U.S., U.K., and Germany, along with several criminal domains. Radar/Dispossessor, known for its dual-extortion tactics, has targeted 43 companies worldwide across various sectors. The group, linked to former LockBit affiliates, exploited security vulnerabilities and weak passwords to breach systems, extort victims, and threaten data exposure. This action underscores the global law enforcement effort to counter ransomware, even as threat actors continue to innovate and target smaller, less secure organizations. For more about this story click here
At DIESEC, our experts are ready to assist with all your cybersecurity needs. We ensure your system is safe and secure and provide training for your employees to avoid falling victim to social engineering tactics.
For more information please contact us now!