New Year, New Beginnings

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The Beginnings of 2022 Are Off to a Predictable Start

Our first quarter data suggests a continuation of the most profitable and workable cyberattack schemes from the prior four quarters with some newly active approaches and mini-markets (for now) to keep the pressure on our defenses.

Crypto Markets

We have seen crypto hacking surge this first quarter as compared to prior years, with 77 cases reported, representing over $1.2 billion lost to criminal actors. The Ethereum blockchain led the way with 18 hacks worth over $635 million. 

As is often the case, the rapidly popular currency has ignored best development practices resulting in exposure to and exploitation of revealed vulnerabilities in both blockchain implementations and flaws in the codebase.

Speed Kills

The crypto market has reached a capitalization of $2.27 trillion on the back of a bull rally across the industry. 

It will be an active year in the crypto markets, and while most folks mistakenly think the market is underregulated, it is the most regulated market in Financial Services, so theoretically, one is safer in a FinTech blockchain with cryptocurrency than in a traditional database with fiat.

As indicated, the best preventions are always the best cures, so slow down, apply fixes to known bugs, understand your GitHub content, find and dismember vulnerabilities before you start and QA your codebase to death.

Ransomware

Ransomware continued and will continue to dominate the 2022 threat landscape, as we witness operators taking new approaches with new techniques.

A significant ransomware trend

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