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CNBC: Credit Suisse is facing fresh scrutiny from Swiss regulators and the European Parliament after leaked data purported to show the bank had served human rights abusers, corrupt politicians and businessmen under sanctions for decades.
The Target: The Internet Society or ISOC, a non-profit organization whose mission is to keep the internet open source and secure.
The Take: Exposure of Personally Identifiable Information of 80,000 records including: full names, email addresses, physical mailing addresses, and login information.
The Vector: A third-party vendor misconfigured a database server, leaving it open and accessible by anyone with an internet connection.
It is important to employ all-encompassing credential management, user authentication and validation, as much possible, on third-party vendors which have access to a firm’s data. An unprotected point of entry on a key piece of equipment like a server can lead to a breach with a cascading effect on data exposure.
Business Telegraph: Britain’s tech sector continues to break records as new government data shows more than 1,800 cyber security firms generated a total of £10.1 billion in revenue in the most recent financial year, a 14 per cent increase from the previous financial year.
The United States Department of Justice: The Justice Department today announced the selection and appointment of Eun Young Choi to serve as the first Director of the National Cryptocurrency Enforcement Team (NCET).
IT Pro: Hackers could face up to 25 years in jail if found guilty of cyber offences against Australia’s critical infrastructure, under proposed changes introduced by the government.
Yahoo Finance: The global Cybersecurity market was valued at USD 149.7 Billion in 2020 and is projected to reach USD 346.0 Billion by the year 2027. The market is expected to register a CAGR of 13.4% during the forecast period.
Financial Post: Cloud-based security solutions provider Securonix has raised more than $1 billion in a private fundraising round led by private equity firm Vista Equity Partners, the company said.
Wealth Management: A hack at IRA Financial Trust, which offers self-directed retirement accounts, resulted in the theft of $36 million in cryptocurrency, according to a person familiar with the investigation.
ZDNet: In a report on 2021, the firm said 83 cybersecurity company capital raises surpassed $100 million. There were fourteen $1 billion mergers and acquisitions, including deals involving McAfee, Augh0, Mimecast, Thycotic, Proofpoint, and Avast.
The Target: Wormhole, a cryptocurrency online trading platform.
The Take: $322 million ETH currency.
The Vector: A website vulnerability allowed the attacker to fool the exchange software to release far greater number of the ETH currency than was specified through a temporary token. By altering the conversion, the hacker was able to withdraw far more than the number the entered.
This breach highlights the importance of locking input forms in a firm’s website, be it a name field, email field, or account field, anywhere the user is sending information to the database is a prime target for threat actors. Regular testing for software vulnerabilities is a key component of upholding robust cybersecurity posture.
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