The month of September 2023 brought about some scary cyber stories that cost companies millions. Stories of data breaches, ransomware attacks, and system glitches made headlines and left us all feeling vulnerable. But instead of shying away from these spooky tales, we should use them as learning experiences to better protect our business and personal information.
Ransomware Gang Steals 6.8TB of Data From Save The Children
One of the most alarming stories in September 2023 was the news of a ransomware attack on Save The Children, a global charity organization that works to improve the lives of children around the world. A ransomware gang called BianLian claimed responsibility for the attack, claiming to have obtained 6.8TB of sensitive data, including financial, medical, and health data.
So where did it all go wrong for Save The Children? It seems that the organization had weak security measures in place, leaving them vulnerable to attacks. Additionally, their employees may not have received proper training on cybersecurity protocols, making them susceptible to falling for phishing scams or other social engineering tactics used by hackers.
CoinEx Loses $70 Million in Cyber Attack
In another shocking story, cryptocurrency exchange company CoinEx was hit with a devastating cyber attack that resulted in the loss of $70 million worth of digital assets on September 12. The attackers were able to access several of the exchange’s hot wallets and steal exchange assets, leaving investors and customers at a loss.
While the exact details of how the attack occurred are not known, it is believed that CoinEx’s failure to implement adequate security measures and regularly update its systems may have contributed to the successful attack.
This incident serves as a reminder that it’s more important than ever for companies dealing with digital assets to have robust cybersecurity measures—including cloud backup solutions—in place to protect both their own assets and those of their customers.
Personal Customer Information Exposed in T-Mobile System Glitch
The spooky tales continue as telecommunication giant T-Mobile suffers from a system glitch that exposed the personal information of their customers from 2020–2022. Reports came in that customers logged in to the T-Mobile app only to see personal and financial information that was not their own, leaving their own information exposed to others.
Though there were accusations that a cyber attack had taken place, the company denied any criminal activity. A spokesperson claimed the data breach was “a temporary system glitch related to a planned overnight technology update involving limited account information for fewer than 100 customers.”
This incident is the result of one specific cybersecurity tactic not being implemented: thorough testing and monitoring of any new systems or updates. More devastating than the information being exposed itself is losing client trust—having proper data encryption and storage protocols like cloud backup solutions can prevent sensitive information from being accessed by unauthorized parties is a necessity.
Practices to Implement for Better Cybersecurity
Cyber attacks like these are every business owner’s nightmare, from small companies to million-dollar organizations. According to a study by IBM, the average cost of a data breach in 2022 was $4.34 million. No matter your business’s size, it’s essential to take proactive measures to protect yourself from such risks. Here are some practices that should be implemented to avoid becoming the next headline:
- Regularly update and patch all systems and software to fix vulnerabilities.
- Provide comprehensive cybersecurity training for all employees to raise awareness and prevent social engineering attacks.
- Keep your data secure with cloud backup solutions.
- Implement multi-factor authentication for added security.
- Conduct thorough testing and monitoring for any new systems or updates to identify and address potential issues before they become major problems.
- Encrypt sensitive data to prevent unauthorized access in case of a breach.
- Enlist a cybersecurity provider to do all of the above for you
AIS: The Solution to Your Cyber Woes
These spooky cyber stories serve as valuable lessons for all of us to take cybersecurity seriously. Neglecting proper security measures can result in devastating consequences, not just for businesses but for individuals as well. By implementing the practices mentioned above—especially cloud backup solutions—and seeking out professional security solutions, you can protect your business from attack.
At AIS, we understand the value of cybersecurity and the importance of staying one step ahead of cybercriminals. Our team of experts is dedicated to providing top-notch cloud backup solutions for businesses of all sizes, giving you peace of mind. From regular software updates to employee training and multi-factor authentication, we’ve got you covered.Remember, at AIS, we’ve got your back when it comes to cybersecurity. Don’t wait until it’s too late—contact us today for a consultation and let us help keep your business safe from cyber threats.