Cybersecurity Private Equity

Cyber TRUST™ Index

157

-2

52 Week

166

135

Index at 100 on January 1, 2020

TRUST INDEX IN PROCESS
OF BEING UPDATED- EXPECTED
COMPLETION FEB 23

Detection Leads to Cybersecurity Protection [Cybersecurity Brief]

Now more than ever cybersecurity professionals are stressing the need to take precautionary measures when it comes to protecting networks. Detecting malware before it causes any damage can save an organization from financial, consumer and employee distress. This week’s cybersecurity news demonstrates how America’s big tech giants are acting and detecting cyber criminals along with harmful malware to lead to system protection.

An article written by Jay Greene and Ellen Nakashima from The Washington Post reported that Microsoft has taken legal steps towards shutting down Trickbot botnet, a network that may have been used to block online voter registration systems during the U.S. election. Trickbot botnet is run by Russian speaking criminals and can steal financial and personal data as well as drop ransomware on its victims. Microsoft is not the only force trying to take this cybercriminal down. The U.S. military has also started an operation to temporarily disrupt Trickbot with a plan to send warning messages to all disrupted systems. Although Microsoft and the U.S. military’s attempts have not been successful yet, the detection efforts towards fighting cybercrime can lead to protection of the American Democracy.

Another major event that happened in this week’s cyber news was covered by Dan Goodin from Ars Technica. The article reveals that a 20-year-old named Sam Curry along with his team found 55 vulnerabilities with Apple’s corporate network, 11 of them being critical. These vulnerabilities gave Sam the control to steal private emails, iCloud information and other private information. Apple has now spent about $288,500 to process only half of these vulnerabilities. However, it is estimated that the total cost to fix all the vulnerabilities could exceed $500,000. Although this a high monetary cost, if hackers were to have gotten a hold of this information the consequences would have been a lot worse. 

Finally, an article by Lily Hay Newman from Wired reveals that Microsoft detected mobile ransomware is quickly evolving, especially in Android devices. The new malware is extremely advanced and can display a missed call notification that results in device lockdown once it is clicked on. To prevent this from happening to your mobile device, Microsoft suggests only downloading apps from trusted online stores and avoiding random links to prevent getting hacked. Microsoft’s detection efforts will result in the protection of millions of devices.

Although the cyber news from this week may seem negative, it demonstrates a quality that has been hard to come by since the start of the pandemic: detection. These large corporations are actively taking steps towards detecting malware and harmful attacks before they strike. In the end, these detection methods can potentially save people’s security around the world.

Key Takeaways

Microsoft seeks to disrupt Russian criminal botnet it fears could seek to sow confusion in the presidential election – Jay Greene and Ellen Nakashima, The Washington Post

  • Microsoft has taken legal steps towards shutting down Trickbot botnet – a network that may have been used to block online voter registration systems
  • Trickbot botnet is run by Russian speaking criminals and could steal financial and personal data as well as drop ransomware
  • The U.S. military has also started an operation to temporarily disrupt Trickbot with a plan to send warning messages to all disrupted systems
  • Although there is not a risk of the hackers meddling with actual votes, Microsoft and the U.S. government want to install confidence back to American voters
  • As of now, Trickbot it still operating but efforts to shut them down remain

Apple pays $288,000 to white-hat hackers who had run of company’s network – Dan Goodin, Ars Technica

  • A 20-year-old named Sam Curry reported that he and his team found 55 vulnerabilities with Apple’s corporate network, 11 of them being critical
  • These vulnerabilities gave Sam the control to steal private emails, iCloud information and other private information
  • Apple has now spent $288,500 to process only half of these vulnerabilities. It is estimated that the total cost to fix all the vulnerabilities could exceed $500,000
  • If hackers were to have gotten a hold of this information, the consequences would have been a lot worse

 

Android Ransomware Has picked Up Some Ominous New Tricks – Lily Hay Newman, Wired

  • Microsoft revealed that mobile ransomware is quickly evolving, especially in Android devices
  • The new malware detected could display a missed call notification that results in device lockdown once it is clicked on
  • Microsoft suggests only downloading apps from trusted online stores and avoiding random links to prevent getting hacked 

Sources:

https://www.wired.com/story/android-ransomware-worrying-evolution/

https://arstechnica.com/information-technology/2020/10/white-hat-hackers-who-had-control-of-internal-apple-network-get-288000-reward/

https://www.washingtonpost.com/technology/2020/10/12/microsoft-trickbot-ransomware/

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