The U.S. and Israel have agreed a new joint cybersecurity program called BIRD Cyber to enhance the cyber resilience of both countries’ critical infrastructures. Grants of up to $1.5 million will be given to entities who jointly develop advanced cybersecurity applications under this program.
The Biden Executive Order was a catalyst for action, with tight delivery times for action, including promotion of SBOM and Zero Trust. The cyber-physical nexus and expanding threat surface mean it’s not easy to maintain vigilance, but recognizing that is the first step.
Ukrainian private energy firm DTEK group alleges that the Russian federation has carried out a cyberattack against its facilities, crippling its infrastructure in retaliation for its owners' support of the country in its war against Russian invaders.
The Twitter and YouTube accounts of the British Army were briefly taken over on Sunday evening by unidentified hacker(s) who posted content related to cryptocurrency and NFTs. The situation has now been resolved, but the U.K. Ministry of Defense says investigation is ongoing.
The U.S. Department of Justice is touting a string of indictments against accused cryptocurrency and NFT fraudsters, including against a Vietnamese man who is allegedly behind the Baller Ape rug pull, the largest such NFT fraud to date. Rug pulls are the largest form of cryptocurrency-based crime.
Cryptocurrency experts are fingering North Korea as likely responsible for the cryptocurrency theft of $100 million from the Harmony Horizon bridge. North Korea fuels its nuclear weapons program with stolen cryptocurrency used to dodge international sanctions that prevent ready access to cash.
The latest edition of the ISMG Security Report describes why firewalls and VPNs don't belong in Zero Trust design. It also discusses cybercriminals' evolving ransomware tactics and the devastating price of responding to a ransomware attack, as experienced by Travelex in 2019.
Ransomware-wielding criminals constantly refine their behavior and tactics to maximize the chance of a payday, and recently they have been implementing fresh strategies for monetizing stolen data, says Steve Rivers at threat intelligence firm Kela.
"I'm concerned that at some point the Russians are going to launch cyber retaliatory attacks against the United States at election infrastructure and the transportation, financial and energy sectors," says Elvis Chan, supervisory special agent at the San Francisco Division of the FBI.
Ransomware-as-a-service gang LockBit has set up a bug bounty program for its malware and for exploitable vulnerabilities it could use to further criminal activities. Whether the program will go as planned is an open question. The gang is offering $1,000 to $1 million in remuneration.
Unlocking the data generated by ransomware attacks is helping organizations better understand the risks, adopt defensive technologies and prepare for future attacks, says Wade Baker, partner at Cyentia Institute. He discusses new data on how quickly organizations are remediating vulnerabilities.
Four ISMG editors discuss important cybersecurity issues, including how Canada's Desjardins Group settled a data breach lawsuit for $155 million, how Facebook is being sued after allegedly violating patient privacy, and highlights from ISMG's Northeast Summit held in New York this week.
Blockchain company Harmony has offered a $1 million bounty to hackers who stole $100 million worth of Ethereum tokens. It says it won’t push for criminal charges if the funds are returned. The exploit did not affect the trustless Bitcoin - BTC - bridge, the company says in its tweet thread.
To excel at cybersecurity incident response, start with planning, preparation and, ideally, regular tabletop exercises, say Kevin Li, CISO for MUFG Securities Americas, and Rocco Grillo, managing director of Alvarez & Marsal's Disputes and Investigations Global Cyber Risk Services practice.
Mark Read, head of data breach solutions for TransUnion in the UK, shares insights on the current data breach landscape, including how businesses should respond to a data breach in order to reduce its impact. "The most successful responses often include the offer of a remediation solution," he says.
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