cybercrime
War in Ukraine: 3 Knock-On Effects Felt in the Tech Sector
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit “Cookie Settings” to provide a controlled consent.
Mass spyware campaign unveiled
Mass spyware campaign targets thousands of ICS computers around the world, Kaspersky From the 20th of January to the 10th of November 2021, Kaspersky experts uncovered a new piece of malware that has targeted more than 35,000 computers across 195 countries. Dubbed “PseudoManuscrypt” for its similarities with the advanced persistent threat (APT) group Lazarus’ Manuscrypt malware, this new malware contains advanced spying capabilities and has been seen targeting both government organisations and industrial control systems (ICS) across numerous industries. Industrial organisations are some of the most coveted targets for cybercriminals – both for financial gain and intelligence gathering. In fact, 2021 saw significant interest in industrial organisations from well-known APT groups like Lazaru...
LCX loses $6.8M in a hot wallet compromise over Ethereum blockchain
Liechtenstein-based crypto exchange LCX has confirmed the compromise of one of its hot wallets after temporarily suspending all deposits and withdrawals on the platform. The hack was first identified by PeckShield, a blockchain security company, based on the suspicious transfer of ERC-20 tokens from LXC to an unknown Ethereum wallet. hot wallet compromised? @lcx https://t.co/uL5a7oCFfM — PeckShield Inc. (@peckshield) January 9, 2022 The probable hot wallet compromise was soon confirmed by the exchange as it announced the loss of numerous tokens including Ether (ETH), USD Coin (USDC) and other tokens including its in-house LCX token. Ethereum blockchain based assets such as ETH, USDC, EURe, LCX and other assets have been moved to the Hacker ETH Wallet: 0x165402279F2C081C54B00f0E08812F...
How a Small Email Phish Can Become a Million Rand Ransom
Image sourced from Kaspersky. Cybercrime is smart, innovative, and agile. Cybercriminals are well-rewarded for their innovative attack vectors and have no incentive to stop finding inventive ways of penetrating systems and moving past the most vulnerable defences. According to Paul Grapendaal, Head of Managed Security Services at Nclose, there’s no standard playbook when it comes to penetrating a system successfully, but there are solid security steps that can mitigate risk and help the business manage the fallout. Steps that will help bolster your defences and ensure that one phish won’t cost your business millions. Paul Grapendaal, Head of Managed Security Services at Nclose. “There are obvious routes of attack, such as spear phishing, that are designed to focus on a target with the sole...
A North Korean Cyber Espionage Group Was Active in SA – New Report
Image sourced from Feed Navigator. Kaspersky researchers have disclosed details of its latest threat intelligence reports on South Africa, including the cybersecurity firm’s analysis of APT groups in the country – major threat actors hunting for sensitive information and finances. The company’s telemetry has demonstrated that throughout 2021 entities in South Africa faced attacks from North Korean group Lazarus and Chinese speaking group CloudComputating. Advanced persistent threats (APTs) are typically, according to Kaspersky, a nation-state or state-sponsored group of extremely stealthy high-level threat actors. In the vast majority of cases, they attack strategically important organisations with a goal of cyberespionage and, in rarer cases, financial gain, since the cost of their cybera...
Targeted Malware is Raging Across South Africa, Kenya & Nigeria
According to the latest research of internet security firm Kaspersky on threat landscape trends, South Africa, Kenya and Nigeria are facing dramatic changes in the landscape. While regular, self-propagating malware is decreasing dramatically, as it is no longer effective and cannot fly under security radars, the region will see the growth of new cybercrime models in the upcoming year. While comparing the overall number of mass cyberattacks in 2021, security researchers at Kaspersky noticed a 7,5% decrease in Nigeria, a 12% decrease in South Africa and an unprecedented 28,6% decrease in Kenya. The reason for such a change was the introduction and popularisation of new cybercrime models in the region, with cybercrime tools becoming more targeted along with a long-running trend where malware ...
6 Ways CFOs Can Stay Ahead of Hackers
Global losses from payment fraud have tripled from $9.84 billion in 2011 to $32.39 billion in 2020, according to Deutsche Bank’s 2021 report on the future of payments. And financial professionals are saying COVID-19 hasn’t helped matters, with 65% believing that the global pandemic is to blame for some of the accelerated rate in fraud activity, revealed by a 2021 survey by the Association for Financial Professionals (AFP). While these cybercriminals can target many areas of an organisation, the dangers are ultimately measured in financial terms. This means that Chief Financial Officers (CFOs) can no longer ignore cyber security simply because it is a complex issue outside their area of expertise. As custodians of the company’s monetary assets and financial data, CFOs are responsible for sa...
Kenya Has Had to Deal with Nearly 33-Million Cyber Attacks in the First Half of 2021
The increase in cyberthreats recorded by internet security group Kaspersky in the first half of this year in Kenya amounted to 32.8 million. Compared to similarly prominently targeted countries in the African region the recorded number was on par with South Africa accounting for 31.5 million, and near double the number recorded in Nigeria at 16.7 million. Overall, a combined 81 million attacks were recorded in these three countries, which is indicative of how significant the danger has become to organisations and users in the connected world. “Threats can be categorised as criminal (80% of attacks), targeted (19.9%), and advanced (0.01%). The advanced grouping is significantly more sophisticated and feature increased investment from attack groups. Unfortunately, both criminal and targeted ...
31.5 Million Cyberthreats Targeted SA Users in the First Half of 2021
Image sourced from Feed Navigator. The increase in cyberthreats recorded by global internet security firm Kaspersky in the first half of this year across South Africa amounted to 31.5 million. “Threats can be categorised as criminal (80% of attacks), targeted (19.9%), and advanced (0.01%). The advanced grouping is significantly more sophisticated and feature increased investment from attack groups. Unfortunately, both criminal and targeted threat vectors learn from the advanced category to enhance their own attack techniques,” says Amin Hasbini, Head of Research Centre, Global Research & Analysis Team, Middle East, Turkey and Africa at Kaspersky. Attacks Are Becoming More Sophisticated Hasbini says that the current trends show that attackers around the world are embracing more sophisti...
The Most Vulnerable IoT Devices: Think Before You Buy This Black Friday
With the shopping season approaching, it’s likely that internet-connected gadgets and toys will be a popular item on many users’ wish lists, as more than 88% of people use IoT (Internet of Things) devices in their households. However, cybersecurity experts warn: Internet of Things devices can quickly go from fun to creepy, depending on how hackable they are. “Enormous Black Friday discounts can rush customers into buying some very questionable gadgets. However, Internet of Things devices is widely known among experts for low-security measures they usually have installed. There is a joke going around: ‘The S in IoT stands for security’. So, it’s best to think before bringing any new IoT device to your household, as it can easily compromise the whole network,” says digital security expert at...
Protect Yourself: Top 10 Most Common Phishing Email Subject Lines
KnowBe4, the provider of one of the world’s largest security awareness training and simulated phishing platform, has announced the results of its Q3 top-clicked phishing report. “Social engineering attacks continue to be one of the top ways malicious hackers breach organizations and/or cause damage,” said Stu Sjouwerman, CEO, KnowBe4. “We are seeing a continued increase in phishing, including more use of common HR types of communications and less reliance on obvious social media phishing campaigns. By equipping security professionals with more data on likely tactics and templates used by cybercriminals executing phishing attacks, infosec professionals can strengthen their human firewall. Now more than ever, end-users need to remain vigilant and remember to stop and think before they click....
When It Comes to Cybercrime Beware of Social Engineers
You would be forgiven for thinking that terms like phishing, vishing, whaling, and pharming all had something to do with either a water sport or a pharmaceutical company, but every one of these is a cybercrime attack. These attacks leverage social engineering techniques to hack personal accounts, infect devices with ransomware, gain access to organisations or steal information to be sold on to the highest underground bidders. As Anna Collard, SVP of content and evangelist at KnowBe4 Africa points out, it has become absolutely essential for people to be mindful of what they post on social media. Anna Collard, SVP of content and evangelist at KnowBe4 Africa. “The risk of identity theft has never been greater and according to a report by SAFPS, has increased by 337% in 2020,” she says. “When ...
