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Dark Reading: Effective cybersecurity operations are as unique as the business models and technology choices of the companies they protect. Their creation and management are constantly complicated by a lack of common terminology and set of expectations, due mainly to the chaotic path our industry has taken since its relatively recent birth.
The Target: SafeMoon, a DeFi platform for cryptocurrency trading.
The Take: Theft of $8.9 million USD.
The Vector: A software feature intended for internal use only was set to public, allowing attackers to exploit and artificially inflate the price of the SafeMoon token and then sell them for large amounts of cash.
This breach is critical reminder that new software features must be thoroughly tested before deployment. In addition, ensuring proper access settings around this kind of software is paramount for an overall robust cybersecurity posture.
Dark Reading: Economic uncertainty puts enormous pressure on cybersecurity startups already struggling to break into a crowded market. It's bad news for both these nascent companies and their potential customers: As cyberattacks grow more prevalent, the need for innovative solutions from startups is greater than ever.
Tech Crunch: The U.S. and China chip battle continues to escalate. In China, the country’s cybersecurity watchdog has initiated a probe into U.S. memory chip maker Micron Technology, according to a statement from the Cyberspace Administration of China (CAC) released.
Financial Post: On March 2, US President Joe Biden’s administration proposed some of the most aggressive measures to fight cyberattacks to date. They would require businesses to beef up their defenses and hold software makers more accountable for security breaches.
Bleeping Computer: Some of the victims affected by the 3CX supply chain attack have also had their systems backdoored with Gopuram malware, with the threat actors specifically targeting cryptocurrency companies with this additional malicious payload.
Cision: Trend Micro Incorporated, a global cybersecurity leader, today published new research detailing how criminal groups start behaving like corporations as they grow bigger, but that this comes with its own attendant costs and challenges.
Liberty Mutual: Cyber is a complex and constantly evolving challenge for any company but couple cyber risk with private equity activity and the risks can be compounded exponentially.
The Target: Toyota Italy, one of the world’s largest vehicle manufacturers.
The Take: Exposure of Personally Identifiable Information belonging to Toyota’s clients including: phone numbers and email addresses.
The Vector: Unsecured and exposed marketing tools, namely APIs for Salesforce and Mapbox, were able to be accessed publicly on Toyota Italy’s website. This allowed attackers to access employee credentials to the third-party platforms and exfiltrate client data.
This breach is a stark reminder of how important authentication controls are in an overall robust cybersecurity posture. In particular, the information exposed here is perfect for crafting highly believable phishing campaigns as it would allow push notifications. Access monitoring and testing for every public-facing webpage is a key strategy to mitigate these kinds of breaches to protect a firm’s customer base.
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