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The Target: Entrust, a digital cybersecurity firm focused on identity management.
The Take: Sensitive corporate internal data from Entrust’s own IT systems.
The Vector: The attacker used previously compromised Entrust employee credentials to access their internal systems, posing as an authenticated user.
This breach is a critical reminder of the importance of credential authentication and password hygiene. Enforced multi-factor authentication could have prevented the Entrust breach, and enforcing this multi-factor authentication, along with reasonably regular forced password resets, password length and complexity rules, are effective strategies to mitigate these kinds of breaches.
Forbes: Private equity (PE) and venture capital (VC) firms have become prime targets for cyberattacks. Perhaps unsurprisingly, cybercriminals tend to gravitate toward money, and there’s a lot of it in private equity. The numbers are mind-boggling: The average midmarket fund encounters more than 10,000 cyberattacks daily.
CNet: The average cost of a data breach rose to an all-time high of $4.4 million this year, according to the IBM Security report released Wednesday. That marked a 2.6% increase from a year ago and a 13% jump since 2020.
Bleeping Computer: Italian authorities are investigating claims made by the LockBit ransomware gang that they breached the network of the Italian Internal Revenue Service (L'Agenzia delle Entrate).
BNN Bloomberg: Cybersecurity provider Acronis raised $250 million in new funding from institutional investors earlier this year to expand its business, including through acquisitions and hiring.
Coin Telegraph: New research shows that despite falling digital asset prices, cryptojacking has reached record levels in the first half of 2022.
Bleeping Computer: System administrators have even less time to patch disclosed security vulnerabilities than previously thought, as a new report shows threat actors scanning for vulnerable endpoints within 15 minutes of a new CVE being publicly disclosed.
CNN: T-Mobile has agreed to pay $350 million to settle multiple class-action suits stemming from a data breach disclosed last year affecting tens of millions of people.
The Target: Morgan Hunt, a British recruitment agency.
The Take: Exposure of Personally Identifiable Information including: names, contact details, identity documents, proof address documents (bank or building statements, national insurance number, and date of birth.
The Vector: The attackers breached a third-party software developer of Morgan Hunts who were storing access credentials to their database with no authentication or access controls.
This breach is a stark reminder that authentication controls are a critical piece in an overall robust cybersecurity posture. Furthermore, all steps should be taken by a firm to ensure any third-party vendor who can access their data is employing the requisite methods. Enforcing multi-factor authentication, reasonably regular forced password resets, and password length and complexity rules are all effective strategies to mitigate these kinds of breaches to protect a firm’s customer base.
Tech Radar: As the number of different digital touchpoints grows exponentially as hybrid working(opens in new tab) cements itself, so too have the number of attack surfaces available for cybercriminals to exploit. In a world where cybercrime is evolving at a rapid pace and the threat landscape remains unpredictable and constantly shifting, one thing is clear: data increasingly underpins future security.
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