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McKinsey: Few corporate functions shifted priorities so much and so quickly when the COVID-19 crisis struck as corporate cybersecurity operations and the technology providers that support them did. As legions of employees suddenly found themselves in a work-from-home model, chief information-security officers (CISOs) adjusted, pivoting from working on routine tasks and toward long-term goals to establishing secure connections for newly minted remote workforces.
Computer weekly: An industry panel appointed by the Australian government to provide inputs on the country’s 2020 cyber security strategy has called for clear consequences for cyber attacks targeted at Australia, among other recommendations.
NBC News: In the latest attempt to "name and shame" China’s government-sponsored cyber theft, the Justice Department announced an indictment Tuesday charging two Chinese nationals — both in China — with hacking governments, dissidents, human rights activists and private companies, including those engaged in COVID-19 vaccine research.
The target: Cashaa, a British-based cryptocurrency exchange.
The take: $3 million USD in Bitcoin
The attack vector: The attackers compromised Cashaa’s systems by installing malware onto a company computer used to make their transactions. Once this malicious software was active, the attackers received a notification which informed them when one of Cashaa’s employees logged into the computer to make transfers from another crypto exchange site’s wallet. The hackers used their backdoor to access this wallet to drain the funds, receiving all 336 Bitcoin instead of the intended party.
The point of entry for an attack can have cascading consequences and this incident shows why securing company computers with proper malware detection is absolutely critical to strong cybersecurity. The breach which led to the malicious software being installed and the further monitoring failure which allowed the malware to send out notifications to the attackers, facilitated the theft.
CBC: The Communications Security Establishment (CSE), responsible for Canada's foreign signals intelligence, said APT29 — also known as Cozy Bear and the Dukes — is behind the malicious activity.
CNN Business: Twitter accounts belonging to Joe Biden, Bill Gates, Elon Musk and Apple, among other prominent handles, were compromised on Wednesday in what Twitter said it believes to be an attack on some of its employees with access to the company's internal tools.
Help Net Security: There was an increase in both cyberattack volume and breaches during the past 12 months in the U.S. This has prompted increased investment in cyber defense, with U.S. businesses already using an average of more than nine different cybersecurity tools, a VMware survey found.
CRN: Advent International and Forescout have called off their dueling lawsuits and agreed to move forward with an acquisition for $4 per share less than the deal initially proposed in February.
ACS: Microsoft has taken legal action to bring down a sophisticated cyber fraud scheme that targeted CEOs in more than 60 countries around the world.
ZDNet: A hacker claims to have breached the backend servers belonging to a US cyber-security firm and stolen information from the company's "data leak detection" service.
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