Top Cybersecurity Predictions for 2023 and Beyond
Mar 06 2023
News
The FBI estimated that the total cost of cyberattacks in 2022 was approximately $6.9 billion.
Data breaches are the phenomenon of this era. The number of people affected and the cost that data has to pay are increasing yearly, making it more difficult for businesses and organizations to protect themselves from this threat.
A data breach can result in sensitive information being lost, stolen, or exposed to unauthorized users. Data breaches can harm businesses, individuals, and governments and affect national security.
2022 research estimates that more than 4,100 publicly publicized data breaches exposed almost 22 billion records. According to Security Magazine, a journal devoted to cyber security, projections for 2022 is projected to exceed this number by as much as five percent. Due to the increasing frequency and severity of data breaches, it is crucial to be aware of the latest developments in the field, potential future solutions, and preventative measures. This blog post compares some of the most significant data breaches in 2022 to profile them based on their impact factor and damages incurred.
Some of the most serious data breaches of 2022 are listed below.
A cybercrime organization Lapsus$ attacked Microsoft on March 20, 2022. Cybercriminals attacked Microsoft and compromised Cortana, Bing, and other services, as evidenced by a screenshot on Telegram. Microsoft stated on March 22 that while the attackers successfully retrieved some data, they stopped the attack, and just one account had been compromised. Microsoft also stressed that no user account data was stolen or compromised. Microsoft reaped the benefits of positive press surrounding its swift response to the security issue. They were prepared because the Lapsus$ organization had previously attacked Nvidia, Samsung, and many other corporations.
Uber Data Breach
When employees exchange knowledge, the organization is better able to accomplish its goals. Slack, Teams, and Zoom, to name a few, are great tools that help us improve and be more productive, but they also make it incredibly easy for attackers to steal our information. Due to a recent breach in Uber's computer network, the business had to temporarily disable several engineering and communications services. One investigator claims that the attacker immediately notified security companies and The New York Times via email, cloud storage, and code repositories. When cybercriminals gained access to an employee's Slack account and began sending out messages claiming to have compromised the Uber network, other employees caught wind of the attack.
More than half a million people who had received aid from the Red Cross and Red Crescent Movement had their personal information compromised in a cyberattack in January 2022. Attackers gained access to databases that contained information vital to the organization's Restoring Family Links services, which aim to reunite families torn apart by conflict, displacement, and violence. The Red Cross shut down its servers to prevent what it believed to be a state-sponsored cyberattack, although the perpetrator has not yet been identified.
Ronin Crypto Theft
The time frame of November 2021 – March 2022 was chosen for the launch of this cryptocurrency-dependent blockchain gaming platform. By playing Ronin's Axie Infinity, users can win fiat currency and non-fungible tokens (NFTs), a digital data-based financial security type. When the game started getting more and more players, the company loosened up its security measures so that the servers could handle the influx. That opened the floodgates to new participants and allowed thieves to steal $625 million worth of cryptocurrencies. The parent company of Ronin is collaborating with law enforcement to track down the perpetrators and retrieve stolen monies, but the incident serves as a warning to other businesses: never skimp on security.
Lastpass, a password management service, has informed some users that a security compromise may have exposed their data. However, the company claims that no passwords were compromised. Neither of these attacks compromised whatever credentials were associated with LastPass, but there have been other recent data breaches targeting the password manager. In August, someone broke into their development environment.
Medibank Data Breach
The largest Australian health insurer, Medibank Private Ltd, announced that nearly all of its client data, including over 4 million Australians, had been accessed by an unauthorized party. As a result of the cyberattack, Medibank's share price fell by 14%, the largest single-day drop for the firm since its IPO.
Toyota Data Breach
In an alert posted to its website, the automaker revealed the theft of data belonging to more than 300,000 users of its T-Connect telematics program. The company assured its customers that their personal information, including credit card details, names, and phone numbers, would be kept secure.
Singtel Data Breach
Singtel, Optus's parent corporation, admitted that a cyber-attack from two years ago compromised "the personal data of 129,000 clients and 23 businesses." victims' "National Registration Identity care information, name, date of birth, cellphone numbers, and addresses" were among the leaked data sets.
Possible Facebook Accounts Data Breach
According to Meta, more than 400 malicious apps are available on Google Play and Apple App Stores to collect users' Facebook credentials. The tech behemoth explained that the malicious software was distributed via "apps listed on the Google Play Store and Apple's App Store and disguised as photo editors, games, VPN services, business tools, and other utilities."
LAUSD Data Breach
The Los Angeles Unified School District (LAUSD), the nation's second-largest school system, was hit by a 500GB data leak by the Russian-speaking cybercrime group after the district failed to pay a ransom by October 4. First reported in early September, the ransomware attack impacted the district's email servers and other computer systems.
While it may be impossible to eliminate all data breaches, the frequency of data loss can be reduced and even stopped by taking the necessary precautions. The most important thing is to minimize the damages of a data breach. Not every cyberattack results in a loss of sensitive information; however, there isn't much room for error in today's digital world. Therefore, businesses must find and fix all data leaks before cyber criminals find them.
In conclusion, we need to realize that no company can survive a data breach. While we may not lose all our clients, we will lose some. Thus, it is impossible to completely prevent a data breach. In the wake of such large-scale incidents, companies will have to think of stronger and more innovative ways to improve their security strategies. The good news is that some of the most successful businesses in history had similar encounters and still managed to flourish and overtake their competition – Amazon, Uber, Microsoft, etc. With some experience and a little work, we will also be able to come out on top.