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Underestimating the dangers within: mitigating the insider cyber threat

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The cybersecurity risks that businesses are often most concerned about come from external attacks. But at the same time, threats – both by accident or with malicious intent – by their own employees are overlooked, despite accounting for 58% of cybersecurity breaches in recent years.

As a result, a large proportion of businesses may lack any strategy to address insider risks, leaving them vulnerable to financial, operational and reputational harm.

Understanding the risk

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How to Protect Your Cryptocurrency Investments from Cyber Attacks

cryptocurrency

Cryptocurrency theft or attack is a serious issue of concern in the digital currency world. In fact, in the latest Statista crypto theft report, $320 million was lost in February 2022 alone and was never recovered. While cryptocurrencies are well known for sophisticated security systems, hackers have always found entryways into these tough security systems to cause mayhem. Whether it’s your first time trading coins or you are an experienced trader, it’s important to learn how to protect your investments. Here are some proven ways to go about it.

Store in a Cold Wallet

One of the main reasons why hackers easily attack and steal cryptocurrency investments is because they’re stored online in hot wallets. Cold wallets are devices that store cryptocurrency private keys offline. Once you buy Bitcoin, for instance, you can hold it in a cold wallet and have the private keys transferred from an internet-connected device to a non-connected or offline device. This way, you minimize attacks on your investments either at a personal or corporate level.

Learn About Latest Cyber Scams

Cyber scams have continued to evolve with every new invention of cybersecurity trends. Scammers and cybercriminals also take advantage of the struggles law enforcers go through globally to curb rising cybercrimes. If you’re a newcomer in this trade, even the oldest of scams can catch you unawares, leaving you counting your losses.

For instance, scammers can easily trick you into revealing your one-time password (OTP) to be used in activating two-factor authentication to access your account. Fraudsters can use different tricks to acquire your OTPs, including the following:

  • Accessing unmonitored verification forms
  • Posing as authorized parties
  • Impersonating you at banks
  • Sending malware-infiltrated links

Regardless of the nature of the scam, you should be well prepared to avert the threats they carry to remain safe in the long run.

Always Use Secure Internet

It’s important to emphasize that public or widely shared internet protocols are major leeways to various forms of cyber attacks. Even if you use public Wi-Fi for personal use, when it comes to trading and crypto transactions, you must switch to a secure connection. You can use a VPN to add an extra layer of protection over your home or office network just to cover your location and IP address, keeping you secure whenever you browse.

Open Multiple Wallets

Opening multiple wallets can help minimize the magnitude of loss in case you’re attacked, and your investment goes. You can maintain a separate wallet for various activities, like one for active trading, another for online purchases and transactions and another one for storing your investments.

Doing this will help restrict any loss to the account that’s been attacked, leaving the rest safe and intact. If hackers got your wallet information from a website or platform you purchased something from, they could only steal what’s in that account while your other investments remain safe.

Don’t Expose Your Crypto Holdings

Many users are tempted to show the world their trading success in an attempt to woo newcomers into the craft for some commission. Hackers use social media as a fertile ground for gathering user information before launching an attack. You might end up exposing just what they need to gain access to your account and steal everything remaining there.

Protecting your cryptocurrency investments from cyber attacks will demand a lot from you, which means you must remain vigilant anytime you’re transacting. These five crucial tips should help you achieve a smooth run with your investment accounts in the long run.

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Cyber attack trends for 2024 from the X-Force Threat Report

X-Force Threat Intelligence Index Report 2024

In the dynamic arena of cybersecurity, the stakes are high and the adversaries are relentless. The latest insights from IBM’s X-Force Threat Intelligence Index Report for 2024 provide a crucial glimpse into the cyber threats that dominated the previous year. For anyone with a stake in the digital world, these findings are not just informative; they are essential for the protection of your digital assets.

The report highlights a significant rise in the exploitation of legitimate user credentials, which saw a 71% increase in 2023, making it as prevalent as phishing in terms of methods used for initial access by cybercriminals. This alarming trend underscores the critical need for robust Identity and Access Management (IAM) protocols. Without strong IAM measures, your digital presence is at risk, as cybercriminals continue to refine their tactics to gain unauthorized access to systems and data.

Phishing attacks, a long-standing threat, remain a formidable challenge, with cybercriminals constantly updating their strategies to install malware or steal credentials. The malware that is particularly concerning is the kind that hijacks user accounts, potentially leading to significant data breaches. It is more important than ever to remain vigilant and to be able to recognize and respond to these deceptive tactics.

Cyber Attack Trends 2024

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Data security has become increasingly important, with incidents of data theft and leakage now accounting for 32% of the major impacts on organizations. This represents a significant increase from the 19% reported in 2022. The rise of info stealers has contributed to this trend, emphasizing the need to protect your data from theft and unauthorized disclosure.

Application security is another area that demands continuous attention. The most common vulnerabilities are due to misconfigurations, failures in identity and authentication, and issues with access control. These vulnerabilities are often linked to poor password practices and the use of default settings. Addressing these issues through rigorous security measures is essential to safeguard your applications from potential breaches.

The report also touches on the emergence of Generative AI, including advanced chatbots, which has been a hot topic in 2023. While the use of this technology in attacks has been minimal so far, the interest shown in dark web forums suggests that it could pose future threats. Keeping up with the developments in generative AI is therefore an important aspect of your cybersecurity strategy.

X-Force Threat Intelligence Index Report for 2024

A review of 2023 identifying major threat trends in cybersecurity, drawing on data from IBM’s global team across 17 countries, including ethical hackers, incident responders, researchers, and analysts.

  • Identity and Access Management:
    • Initial access factors highlighted, with valid accounts or improper use of a valid account and phishing tied for the top method at approximately 30%.
    • A significant increase in valid account misuse, up by 71% over the previous year.
  • Phishing Details:
    • Split into two main types: those involving attachments and those involving links, aiming to plant malware or steal credentials.
    • A considerable portion of malware is intended to steal credentials.
  • Data Security:
    • Data theft and leakage were the top impact on organizations, constituting 32%, up from 19% in 2022.
    • The rise of info stealers, malware designed to exfiltrate sensitive information and credentials, saw an increase of 266%.
  • Application Security:
    • Misconfiguration was the most frequent application security vulnerability, according to the OWASP Top 10 list.
    • Identity and authentication failures, along with related access control issues, were significant, collectively accounting for 36% of the vulnerabilities.
  • Zero-Day Attacks:
    • A significant decrease in 2023 compared to 2022, down by 72%, possibly due to easier attack methods being available.
  • Ransomware:
    • A slight decrease in real-world cases, down by 12%.
    • Early signs of better defense against ransomware attacks and a growing trend of organizations not paying the ransom.
  • Generative AI:
    • 2023 marked a significant year for the adoption and discussion of generative AI technologies.
    • Over 800,000 mentions of AI and generative AI in dark web forums, indicating both interest and experimentation by malicious actors.
    • Concerns raised about the potential misuse of generative AI in cyber attacks, with some alternative chatbots lacking restrictions on generating malicious content.
  • Preventive Measures and Recommendations:
    • Emphasis on the effectiveness of industry best practices in preventing 84% of attacks on critical infrastructure.
    • Recommendations include multi-factor authentication, use of passkeys, data encryption, immutable backups, patching applications, system hardening, and staying informed about generative AI developments.

However, it’s not all grim news. The report notes a significant 72% decline in zero-day attacks and a 12% reduction in ransomware incidents, indicating that cybersecurity efforts are making a difference. These positive trends highlight the effectiveness of proactive prevention measures and the benefits of staying ahead of cybercriminals.

Prevention is, and always has been, the best defense. The report suggests that adhering to industry best practices could have prevented 84% of the attacks on critical infrastructure that occurred. Among the recommended practices are the use of multi-factor authentication, passkeys, data encryption, immutable backups, regular patching, system hardening, and staying informed about the latest developments in generative AI.

The X-Force Threat Intelligence Index Report for 2024 is a wake-up call to learn from the previous year’s cybersecurity challenges and to strengthen our defenses. It is imperative that you review the full report for a comprehensive analysis and adopt the suggested security practices. By doing so, you can enhance the security of your digital ecosystem and be better prepared to face the emerging threats that lie ahead.

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Cyber Acoustics Flex center screen web camera

Cyber Acoustics Flex fully adjustable center screen and edge webcam

The CA Essential Webcam Flex by Cyber Acoustics is a multi-functional camera that offers a wide range of features, making it an indispensable tool for a variety of professional and personal purposes. Whether you’re a business professional, teacher, healthcare professional, or a streamer on platforms like YouTube or Twitch, the CA Essential Webcam Flex is designed to cater to your specific needs offering a fully adjustable edge and center screen webcam.

One of the standout features of the CA Essential Webcam Flex is its ability to serve multiple purposes. It is not just a webcam for video conferencing, but also a device that can be used for presentations, live interviews, webinars, livestreams, and demonstrations. This flexibility makes it a versatile tool that can be used in a variety of settings, from professional meetings to personal livestreams.

The CA Essential Webcam Flex offers two unique mounting positions: Center View and Table View. The Center View position allows for a more natural gaze, making video calls more engaging and personal. On the other hand, the Table View position is perfect for sharing documents, objects, lessons, and more. This makes the webcam an excellent tool for teachers, tabletop gamers, and anyone who needs to share physical objects or documents during a video call.

Flexible center screen webcam

The technical specifications of the CA Essential Webcam Flex are impressive. It offers high-quality 5MP video, HD autofocus, and low light correction. This ensures that your video is always clear and crisp, even in less than ideal lighting conditions. The webcam also features a rotatable arm adjustable up to 19 cm, further enhancing its versatility.

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Another key feature of the CA Essential Webcam Flex is its dual omnidirectional microphones. These microphones capture sound from all directions, ensuring that your voice is clear and audible during video calls. This is particularly useful for live interviews, webinars, and livestreams where clear audio is essential.

The CA Essential Webcam Flex is compatible with Windows 10 & 11, Mac OS 10.6 or above, and Chromebooks. It also works with all conferencing and chat applications, including Zoom, Google Meet, Skype for Business, and Microsoft Teams. This broad compatibility makes it a convenient choice for users with different operating systems and conferencing preferences.

Specifications :

  • High-quality 5MP video up to 2592 x 1944 @ 30 FPS
  • HD autofocus and low light correction
  • Rotatable arm is adjustable up to 19 cm for both Table View and Center View mode
  • Wide 74.57-degree diagonal field of view with five levels of manual zoom
  • Dual omnidirectional microphones
  • USB-A plug-and-play, no software required
  • Compatible with Windows 10 & 11, Mac OS 10.6 or above, and Chromebooks
  • Compatible with all conferencing and chat applications, including Zoom, Google Meet, Skype for Business, and Microsoft Teams
  • Ensure privacy by rotating camera up when mounted at the top of a monitor

The webcam is a plug-and-play USB-A device, which means it does not require any additional software or applications. This makes it easy to use, even for those who are not tech-savvy. Moreover, the webcam ensures privacy by allowing the camera to be rotated up when mounted at the top of a monitor, providing users with peace of mind.

The CA Essential Webcam Flex is priced at $129.99, making it a worthwhile investment for those who need a high-quality, versatile webcam. With its unique features and broad compatibility, the CA Essential Webcam Flex is a game-changer in the world of webcams, offering users an unparalleled video conferencing experience.

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