The most notable cybercrimes so far in 2022

The most notable cybercrimes so far in 2022

Cyberattacks are becoming more sophisticated and prevalent. In fact, according to Check Point Research, businesses experienced 50% more attacks per week in 2021 than in 2020.

This year, the trend seems to continue with more high-profile cyberattacks making headlines. In this blog, we will discuss some of the most notable ones so far, and what your business can learn from them:

1. hack

Popular cryptocurrency exchange platform was hit by a major data breach back in January. The threat actors targeted roughly 400 wallets and were able to steal more than $31 billion worth of cryptocurrency by circumventing the website’s two-factor authentication (2FA) system.

Once discovered the incident, the company suspended all withdrawals from the platform. They then reimbursed the affected accounts, revoked all customer 2FA tokens, and added additional security measures to prevent the incident from happening again.

What lesson can you learn from this?

Even if you have multiple layers of security, it’s still important to regularly review and update your security measures. This is because cybercriminals are constantly looking for new, unpatched system vulnerabilities to exploit. You should also educate your employees on cyberthreats and how to avoid them. Finally, develop an incident response plan to help your team respond quickly to data breaches and other cyber incidents.

The threat actors targeted roughly 400 wallets and were able to steal more than $31 billion worth of cryptocurrency by circumventing the website’s two-factor authentication (2FA) system.

2. NVIDIA hack

Semiconductor chip company NVIDIA was compromised by a ransomware attack in February 2022. The company confirmed that hacking group Lapsus$ leaked up to 1 terabyte of employee credentials and proprietary information online.

To make matters worse, many of the leaked passwords were distributed to hacking forums. Employees were found using weak passwords containing the words “nvidia,” “nvidia3d,” “ready2wrk,” “mynvidia3d,” and “password.”

NVIDIA immediately hired cyber incident response experts to contain the situation. Lapsus$ claimed that NVIDIA hacked them back and successfully ransomed their machines, but this cannot be confirmed.

What lesson can you learn from this?

Always use strong and unique passwords to secure online accounts. It’s important to implement multifactor authentication, which requires users to provide at least one more proof of their identity aside from their username and password. This could be a security key, app notification, one-time PIN from an authentication app, or a fingerprint or facial scan. This way, even if hackers get ahold of a password, they won’t be able to access the associated account.

You should also make sure that your antivirus and anti-malware programs are updated so they can effectively detect and prevent ransomware from encrypting your files.

3. News Corp data breach

News Corp disclosed in early February that its systems suffered a data breach. The intrusion, which is believed to have occurred as early as February 2020, compromised journalist files and email accounts. While it’s not clear how the hackers broke in, News Corp discovered that the cybercriminals exploited a system used by several of its business units.

What lesson can you learn from this?

News Corp's data breach incident is a reminder that no business is completely safe from cyberattacks. It took the company a long time to discover the breach, which shows that hackers can stay undetected in a system for months or even years.

This is why you should monitor your systems for unusual activity and invest in reliable cybersecurity solutions, such as firewalls, intrusion detection and prevention systems, and email security software. Also, make sure to train your employees on how to spot phishing emails, as this is the most common entry point for hackers.

4. Red Cross attack

On January 19, the International Committee of the Red Cross (ICRC) announced that one of their third-party data storage vendors suffered a cyberattack. The attack exposed the personal data and confidential information of more than 515,000 people. Login information for about 2,000 Red Cross and Red Crescent staff and volunteers were also compromised.

Upon discovering the incident, the ICRC took its servers offline and started an investigation to minimize damages. The Red Cross said that it hired highly specialized companies to help the organization recover from the attack.

What lesson can you learn from this?

The Red Cross incident highlights the importance of choosing trusted and reliable vendors. Make sure to do your due diligence when selecting a third-party provider, and always have a data backup plan so you can continue operations in case of an attack.

These incidents show that it’s more important than ever to protect your California business from cyberthreats. Allow Complete Document Solutions to help! When you partner with us, we will safeguard your IT infrastructure from data breaches and other cyberthreats. Talk to us today for an IT assessment or download our FREE eBook to learn more about cybersecurity issues your company should watch out for.

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