The global insurance and reinsurance industry is likely to avoid any major financial impact from the outage sparked by CrowdStrike’s glitchy security software update that disrupted internet services worldwide last week, Fitch Ratings said. Preliminary estimates suggest that insured losses could be in the range of mid-to-high single-digit billion dollars and most claims would be…
The Azure outage, which originated in Microsoft’s Central US region on Thursday evening, had a cascading effect on multiple airlines. A major outage of Microsoft’s Azure cloud computing platform this week wreaked havoc on airlines globally, causing flight groundings and operational disruptions. The incident highlighted the vulnerability of cloud-dependent systems, prompting cybersecurity firm CrowdStrike to…
India’s largest crypto exchange, WazirX, has been hacked, resulting in the transfer of cryptocurrencies worth over ₹1,900 crore to an anonymous wallet. Republic Business has reached out to WazirX for confirmation of the total loss, but the exchange has yet to respond. The hacker swapped Tether (USDT), Pepe tokens, and GALA into Ether. Blockchain data…
The ransomware is rudimentary with basic functionalities, likely having been created by an inexperienced developer — but it’s effective at locking up files and sucking up memory capacity. A ransomware strain coined “ShadowRoot” has been found targeting Turkish businesses through phishing attacks. The phishing emails contain a PDF attachment disguised as an invoice with embedded…
A much-trumpeted deal between Microsoft and Group 42 in the Middle East and Africa could be quashed due to geopolitical concerns, as US policymakers raise questions about Group 42’s relationship with China, highlighting challenges US companies face in forging business ties in the region. Despite assurances from Group 42 that it is cutting all military…
SANS-GIAC Workforce research report for the year 2024 is based on a first-of-its-kind survey that analyzed the cybersecurity workforce with the goal of identifying the key factors to successfully build high-performing cybersecurity teams. The report focuses on efforts to hire and retain mid-level cyber security professionals The survey results analysed in this report zero in…
Joe Levy, who has been serving as acting CEO since 15 February, brings nearly three decades of experience in cybersecurity product development and leadership to his new role. Levy also spearheaded the creation of SophosAI and Sophos X-Ops, an operational threat intelligence unit comprising over 500 cybersecurity operators and threat intelligence experts. Sophos said this…
Kaspersky has identified ransomware attacks using Microsoft’s BitLocker to attempt encryption of corporate files. The threat actors are using VBScript – a programming language used to automate tasks on Windows computers – to create a malicious script with previously unreported features to maximize the damage of the attack, Kaspersky Global Emergency Response team reports. The…
RBI deputy governor Swaminathan J said the potential impact of a cyberattack on a bank’s operations, reputation, and financial stability cannot be “overstated”, as he emphasised the need for proactive risk mitigation strategies. Speaking at the Conference of Heads of Assurance of Urban Cooperative Banks here on Thursday, the deputy governor said that in the…
CybeReady, a global leader in autonomous cybersecurity learning, today announced an impactful new feature to its SaaS-based Cybersecurity Learning Platform: a cutting-edge Poster Studio designed to support CISOs in educating employees about a vast array of security threats. The innovative tool enables the creation of customizable educational posters to address critical issues such as phishing,…
