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PR Newswire: Abacus Group, the leading Managed Services Provider ("MSP") to financial services firms with specialized cybersecurity expertise provided by Gotham Security, an Abacus Group company, unveils a revamp of its integrated IT and security solutions and services to meet the changing needs of the financial services industry.
Globe Newswire: The Global Industrial Cybersecurity Market Size is to Grow from USD 18.74 Billion in 2023 to USD 39.94 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.86% during the projected period.
Forbes: In an era defined by digital transformation and escalating cyber threats, the role of cybersecurity has become ubiquitous. Today, no serious business can do without firewalls to prevent unauthorized access, encryption to protect digital assets or intrusion detection systems to prevent data breaches.
Bleeping Computer: Ransomware actors have had a rough start this year, as stats from cybersecurity firm Coveware show companies are increasingly refusing to pay extortion demands, leading to a record low of 28% of companies paying ransom in the first quarter of 2024.
The Target: Prisma Finance, a popular decentralized finance (DeFi) platform.
The Take: The Munchables blockchain-based game said it was attacked, and several security firms said about $62 million worth of cryptocurrency was stolen from the game. That incident was followed by another when a hacker stole about $11.6 million from Prisma Finance.
The Vector: The theft occurred as a result of a flash loan attack. Flash loan attacks involve hackers borrowing funds that do not require collateral, buying a significant amount of a cryptocurrency to artificially raise its price and then offloading the coins. The loan is paid back and the borrower keeps any profit. The report said that once the first person had exploited the vulnerability in the platform, two others copied the same method.
This breach is a stark reminder of how strong authentication controls are in an overall robust cybersecurity posture, and that good password hygiene plays a pivotal role in protection.
CNBC: Enterprise technology titan Cisco Systems unveiled a new security architecture product aimed at securing data centers, clouds, and other IT environments with the help of AI.
BNN Bloomberg: Armis, the multibillion-dollar cybersecurity startup that has been positioning itself for a public listing, has bought the platform Silk Security for $150 million, marking its second acquisition in a matter of months.
Yahoo Finance: Coro, the leading cybersecurity platform for small and medium-sized enterprises (SMEs), announced the results of its 2024 SME Security Workload Impact Report, revealing that cybersecurity professionals are overwhelmed by the complexity and demands of managing multiple tools in their security stack.
TechCrunch: Cybersecurity has had a rough go of it lately, with investment in the sector dropping a precipitous 40% compared to the year prior. But there are promising early, even preliminary, signs of a recovery.
Crunchbase: Venture funding overall was still sluggish, but cybersecurity startups saw some love from investors in the first quarter of 2024. To be sure, this is not the salad days of 2021 — cybersecurity funding was still down year to year — but the sector saw its best funding quarter in three quarters.
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