1/8/2024 0 Comments Ransomwhere review![]() The CEO of Colonial Pipeline made the decision to pay a $4.4 million ransom to known cybercrime group DarkSide, later remediating issues and getting the pipeline back into operation. Following the discovery of the ransom notice on corporate devices, the company had to shut down the pipeline for the first time in its 57 years of operation, causing panic and fuel shortages up the East Coast. While the account had been deactivated, multifactor authentication wasn’t in place for the account, and the attackers were able to enter and deploy ransomware within the company’s network. On April 29, attackers entered the networks of the company via a deactivated employee VPN account. ![]() The Colonial Pipeline breach was one of the most widely publicized cybersecurity incidents in 2021. Let’s look back at some of the most notable attacks this year and what they mean for the cybersecurity landscape.Ĭolonial Pipeline attack causes panic buying, supply chain disruptions But will this be enough to combat the growing cyber threat? By the end of 2021, it is estimated that there will be more than 714 million ransomware attacks.Ĭoinciding with the increased number of attacks, spending on cybersecurity is at an all-time high, with estimates that organizations will spend $170.4 billion by 2022. Of the various types of cyber attacks, ransomware posed the biggest threat to organizations, notably being the method of attack used against Colonial Pipeline earlier this year. By the end of 2021, it is estimated that there will be more than 714 million ransomware attacks. Financial services, government entities, and professional services also topped the list. The healthcare industry was also a major target, with with 78 security incidents that compromised the data of more than 7 million people. When looking at these attacks on an industry level, manufacturing and utilities were the hardest hit, with around 48 security incidents that impacted more than 48 million people. According to the Identity Theft Resource Center (ITRC), as of September 30 there had already been 1,291 reported breaches, an increase of 17% from 2020. In recent years there has been a significant increase in the number of cyber attacks, and 2021 was no different.
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