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Yahoo News: The UK’s cybersecurity laws will be updated to require outsourced IT providers to meet security standards as part of efforts to better protect supply chains, the Government has announced.
Bleeping Computer: As revealed in a report published earlier this month, the KmsdBot malware behind this botnet was discovered by members of the Akamai Security Intelligence Response Team (SIRT) after it infected one of their honeypots.
Reuters: A warning from Crowdstrike Holdings Inc (CRWD.O) that clients were cutting back on spending and delaying purchases due to an economic slowdown slammed cybersecurity stocks, inflicting fresh pain on the battered sector.
Forbes: The whole point of a merger or acquisition (M&A) is to combine the resources of two organizations to take advantage of economies of scale. It can be a strong recipe for corporate success, yet cybersecurity often takes a back seat in the quest to boost profits and trim costs.
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.
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