So far, Norwegian aluminum company Norsk Hydro has received just $3.6 million from its cyber insurer to cover expenses related to the LockerGoga ransomware attack it suffered in March that led to losses of $50 million to $71 million, the company revealed in its third quarter report.
Ransomware continues to be a highly profitable cybercrime. Ransomware incident response firm Coveware reports that for the third quarter of this year, the average ransom amount paid was $41,198, a six-fold increase from the same period last year, driven by strains such as Ryuk and Sodinokibi.
For Russian-speaking hackers, ransomware used to be taboo. But GandCrab killed all such ethical qualms, democratizing ransomware-as-a-service, paving the way for new profit-sharing schemes such as Sodinokibi and driving a new generation of attackers to master advanced hacking skills, a new report finds.
A trio of domain name registrars are mandating a password reset after a breach affecting about 22 million accounts occurred in late August. Web.com and two of its brands, Network Solutions and Register.com are contacting victims via email.
A new study produced in partnership with several insurance companies concludes that a single virus attack affecting 15 major ports across Singapore, China, Japan, South Korea and Malaysia potentially could lead to losses of up to $110 billion worldwide.
It's one thing to plan for a cybersecurity incident, but quite another to have proper insurance coverage to prepare for such an event. Mark Singer of Beazley shares an overview of the cyber insurance myths and realities.
The Nuclear Power Corp. of India on Wednesday confirmed that a PC at the Kudankulam Nuclear Power Plant was infected with malware. The announcement came a day after the plant denied that a cyberattack had resulted in an intruder gaining domain control-level access, as asserted by a cybersecurity specialist.
FCC Chairman Ajit Pai is pushing a proposal that would ban U.S. telecommunications firms from using commission funds to buy equipment from companies deemed national security threats. The new rule would first target Chinese telecom companies Huawei and ZTE.
After months of appeals, Facebook has agreed to pay $643,000 to settle claims that it violated U.K. privacy laws by allowing Cambridge Analytica - a now-defunct digital marketer that focused, in part, on political campaigns - to access the personal data of 87 million of its users.
Facebook is suing NSO Group, a spyware company, alleging it developed a potent exploit to spy on WhatsApp messages sent by diplomats, journalists, human rights activists and political dissidents. Facebook is seeking damages and an injunction forbidding NSO Group from accessing its infrastructure.
Russian attack group Turla has been named and shamed for hijacking Iranian nation-state attackers' infrastructure. The aim of GCHQ and NSA's attribution is, in part, to make Turla's future cyber espionage efforts more costly and time-consuming.
Two new security incidents demonstrate how easily millions of customer records can be exposed. Researchers found an unsecured database containing records of customers of Adobe Creative Cloud. And Italy's UniCredit bank announced a "data incident" that exposed a file containing customer records.
Agile environments benefit from development platforms and open-source software, but that also raises the risks of attacks seeded in those supply chains, says Chet Wisniewski of Sophos, who describes steps that organizations can take to mitigate the risks.
Johannesburg has been hit with a ransomware attack that is crippling municipal services. City Power, an electric utility owned by the city that was hit by a similar attack in July - also was affected by the latest attack.