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Tag: cyberthreat

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Unnamed Canadian Insurance Company Suffers $1M USD Ransomware Attack

On October 8th 2019, an unnamed Canadian insurance company paid a total of 950 000 USD to a ransomware cyberattacker. The attacker was able to infect 20 servers and around 1000 employee computers in the attack, encrypting data on the systems behind a ransomwall, demanding payment of 109.25 bitcoins for the safe release of the…
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Travelex falls victim to “Sodinokibi” Ransomware

The list of ransomware victims continues to grow. On New Year’s Eve 2020, Travelex, an international foreign exchange company, disclosed that it was struck by the “Sodinokibi” ransomware strain. Also known as REvil, Sodinokibi ransomware prevents users from accessing their computer data by encrypting it behind a ransomwall. The ransom demand for Travelex was $6M…
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Ransomware Attack Temporarily Shuts Down The Heritage Company

The Heritage Company has temporarily shut down its operations due to a ransomware attack. In December of last year, CEO Sandra Franecke announced to the company’s 300 employees that the company had not fully restored its systems following a ransomware attack that October. As a result of the attack, the company would be temporarily suspending…
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Cloud Security Will Be The Cybersecurity Topic Of 2020

Cloud computing grew drastically in 2019. However, cloud security has dragged behind in development which has resulted in some of the most devastating cyberattacks in history. In traditional offline computing, programs and data are stored locally on a machine. On the organizational scale, data may be stored and shared on local servers that are linked…
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European Airport Finds 50% of its Computers Infected With Malware

50% of the workstations at an international airport in Europe have been infected by a cryptomining malware. The breach was discovered by researchers from cybersecurity company Cyberbit. The researchers stated that they detected the malware due to abnormal activity of the PAExec tool and Reflective DLL Loading on the infected computers. What is cryptojacking? Cryptojacking…
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Employees Maliciously Cause Data Breaches at American Express and Yahoo

In two separate incidents, U.S. companies American Express and Yahoo have both been affected by data breaches of their clients’ personal information. Both attacks were the result of insider threats – a type of cyberattack caused by an internal person in the company. The American Express Incident American Express stated that data that was leaked…
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The Most Dangerous Software Errors Have Been Identified

American Not-for-profit research organization MITRE has published their 2019 report for the “Top 25 Most Dangerous Software Errors”. In their report, MITRE placed buffer flaws and cross-site scripting at the top of their list. The CWE list of top 25 most dangerous software errors is a useful reference for software developers and cybersecurity professionals when…
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106 Million Affected By Capital One Data Breach

In one of the largest financial data theft incidents in history, Capital One Financial Corporation reported on July 19th 2019 that around 106 million of its clients’ data was leaked due to cyberattack. Of the affected, 100 million are located in the U.S. and 6 million in Canada. Capital One announced that personal client information…
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Debt-Collector Firm Files For Bankruptcy Following Data Breach Costing Millions

New York-based debt collection company Retrieval-Masters Creditors Bureau, Inc. has filed for bankruptcy due to a massive data breach. Following the leak, the legal obligation on the company to notify the 7 million affected by the data breach cost it $3.8 million. Another $400 000 was also spent on external IT consultants to determine the…
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Reporting Data Breaches: Do you need to do it?

Hong Kong’s flag carrier, Cathay Pacific, has been the latest in the long list of companies affected by major digital data breaches. It was reported that the sensitive data of over 9.4 million customers were compromised due to the incident. Over 400 expired credit card numbers, and 27 active cards (without CVV information) were leaked.…
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