Join our subscribers
Hackers collaborating has a worrying outcome
Thursday, August 15, 2019
Although arrests are being made for big hack attacks, threat actors are continuing to grow.
Ilia Kolochenko, founder and CEO of web security company ImmuniWeb, says: “We should expect further commoditization of the global cybercrime industry. Unlike lavish cybersecurity startups, which can usually “repair” any mistakes or omissions with a next funding round, cybercriminals think rationally and plan effectively. They smartly implement machine learning and cloud to accelerate diverse hacking tasks. They outsource some of their activities to other gangs to cut their costs, increase profits and add a supplementary smokescreen for understaffed and underpaid law enforcement agencies.”
Distributing tools
It was also found in the investigation that cybercriminals are not only finding new ways to access supply chain networks but are also sharing more tools that contribute to the mass production of malware documents.
Kolochenko suggests that due to the developing technology used in this area, the future of cybercrime safety is bleak. He says: “Mushrooming cryptocurrencies will soon make sophisticated crimes technically uninvestigable. Given the modest financial opportunities available to bug bounty hunters compared to unscrupulous cyber mercenaries, we will likely see further proliferation of skilled and sophisticated cyber gangs capable of making entire countries tremble.” Read Full Article
ITWeb: Cyber crime syndicates are forming closer relationships
ValueWalk: Desjardins Spends C$70 Million After Data Privacy Breach
