.jpg?width=200&height=78&name=CH%20Diligence%20(thicker%20line).jpg "CH Diligence (thicker line)")
Yahoo Finance: The G20's financial watchdog recommended a blueprint for banks to report cyberattacks in a common format in a bid to speed up responses to hacking and limit the fallout on financial stability.
Crunchbase: Although venture funding struggled mightily in the first quarter, funding to cybersecurity startups specifically remained relatively even quarter to quarter — although well below the highs of the past few years. Venture-backed startups in cybersecurity saw nearly $2.7 billion in the first quarter of the year, per Crunchbase data.
Cointelegraph: The Australian government is being pushed to ban the payment of cyber ransoms, usually demanded in cryptocurrency, following a local business suffering a mass data breach and subsequent ransom demand.
Financial Post: Today, CDW Canada, a leading provider of technology solutions and services for Canadian organizations, published findings from its 2023 Penetration Testing Survey to coincide with CDW’s annual National Penetration Testing Day. The research found that more than one-in-three (36 percent) Canadian organizations experienced a security breach in the past year.
Business Wire: BluWave, the business builders’ network for private equity grade needs, released its Q1 BluWave PE Industry Insights Report. The report’s exclusive data provides a unique perspective into how the world’s top businesses are finding and acting on opportunities in this uncertain economy.
CSO: Reporting an incident to the correct authorities or vulnerability clearinghouses can be an experience fraught with frustration. You pour time, energy, and resources into fighting an intrusion, all while keeping company officials and stakeholders up to date and preventing sensitive information from getting into the wild.
Dark Reading: Effective cybersecurity operations are as unique as the business models and technology choices of the companies they protect. Their creation and management are constantly complicated by a lack of common terminology and set of expectations, due mainly to the chaotic path our industry has taken since its relatively recent birth.
The Target: SafeMoon, a DeFi platform for cryptocurrency trading.
The Take: Theft of $8.9 million USD.
The Vector: A software feature intended for internal use only was set to public, allowing attackers to exploit and artificially inflate the price of the SafeMoon token and then sell them for large amounts of cash.
This breach is critical reminder that new software features must be thoroughly tested before deployment. In addition, ensuring proper access settings around this kind of software is paramount for an overall robust cybersecurity posture.
Dark Reading: Economic uncertainty puts enormous pressure on cybersecurity startups already struggling to break into a crowded market. It's bad news for both these nascent companies and their potential customers: As cyberattacks grow more prevalent, the need for innovative solutions from startups is greater than ever.
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