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Dark Reading: As the US economy has tightened, the venture capital and acquisition landscape has quickly shifted to become a buyers' market, with startups failing to command the high valuations that were common in past years.
The Target: DraftKings, a U.S based sports betting website.
The Take: $300,000 USD of customer funds.
The Vector: Via a credential stuffing attack, where user passwords that have been exposed elsewhere were also used as a login for DraftKings, enabled attackers to login and steal the funds.
This breach is a stark reminder of how critical authentication controls are in an overall robust cybersecurity posture. Credential stuffing attacks can be avoided by enforcing multi-factor authentication and reasonably paced password resets. It is important to employ effective strategies to mitigate these kinds of breaches to protect a firm’s customer base.
BNN Bloomberg: The European Parliament’s website was knocked offline following what its president, Roberta Metsola, described as “a sophisticated cyberattack.” She said a pro-Kremlin group claimed to be behind the attack.
Forbes: For the past two years, the market was like a roller coaster, up, up and up the tracks to hit new and exciting highs. But what goes up must come down, and this year’s market correction has left many passengers screaming as the market tumbles downward.
Financial Post: Striken crypto exchange FTX has suffered cyberattacks and “substantial” assets are missing, attorneys for the firm said, after a court filing said the firm has a total cash balance of $1.24 billion.
Nasdaq: While Cybersecurity Awareness Month recently concluded, the efforts to combat cybercrime continue every day, and for investors, this presents a critical opportunity to invest in this industry that is poised for future growth.
Forbes: Reports in the last year from AARP and the Federal Trade Commission have shown that veterans are at higher risk of digital crime.
Fortune Education: As the number of cybersecurity attacks continues to rise, so does the demand for the talent to protect against them. In fact, there are more than 700,000 open cybersecurity positions in the U.S. alone—and the occupation is growing more than twice as fast as the overall rate across the country’s economy, data from CyberSeek shows.
Global News: “Cyberattacks are unfortunately becoming more and more prevalent and sophisticated in our society and, despite all the measures we put in place, public administrations are not completely immune to this sad reality,” Westmount Mayor Christina Smith wrote in the statement.
The Target: CorrectCare, a U.S based integreated health service for correctional facilities.
The Take: Exposure of Personally Identifiable Information of 600,000 inmates including: name, date of birth, social security number, and limited health information.
The Vector: A misconfigured data server was left open and unsecured, meaning anyone with an internet connection could have viewed and downloaded the data.
This breach is critical reminder that authentication controls are an important piece in an overall robust cybersecurity posture. 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 data.
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