Dec 9, 2020

FireEye hit by suspected cyber attack from state actor

Cybersecurity
FireEye
William Smith
2 min
US cybersecurity firm FireEye has said that it has sustained a cybersecurity attack, likely from a state actor
US cybersecurity firm FireEye has said that it has sustained a cybersecurity attack, likely from a state actor...

US cybersecurity firm FireEye has said that it has sustained a cybersecurity attack, likely from a state actor.

The intelligence security company professes an emphasis on intelligence as well as technology in the fight against cyber attacks, with its unified security platform, Helix, that evolves and updates with the knowledge it has gained to respond to new breaches.

It is usually not the subject of attackers aims, with its investigative services having been employed in the cases of attacks against organisations including JP Morgan Chase and Sony Pictures.

The date of the hack was not disclosed, with FireEye only saying “recently”. The attack resulted in “Red Team assessment tools”, which FireEye uses to test its clients’ defences, being stolen, and led to an 8% drop in its share price. Also

In a blog post, CEO Kevin Mandia said: “Recently, we were attacked by a highly sophisticated threat actor, one whose discipline, operational security, and techniques lead us to believe it was a state-sponsored attack. Our number one priority is working to strengthen the security of our customers and the broader community.”

“Based on my 25 years in cyber security and responding to incidents, I’ve concluded we are witnessing an attack by a nation with top-tier offensive capabilities. This attack is different from the tens of thousands of incidents we have responded to throughout the years. The attackers tailored their world-class capabilities specifically to target and attack FireEye. They are highly trained in operational security and executed with discipline and focus. They operated clandestinely, using methods that counter security tools and forensic examination. They used a novel combination of techniques not witnessed by us or our partners in the past.”

The company said it was working with partners including the FBI and Microsoft to investigate, and monitor whether the stolen tools are put to malicious use, while also releasing preventative countermeasures.

The news comes after IBM researchers discovered that the cold supply chain used to deliver COVID-19 vaccines was being targeted by hackers

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Jun 15, 2021

IT Employees Predict 90% Increase in Cloud Security Spending

Technology
Cloud
Cybersecurity
Investments
Elise Leise
3 min
Companies that took the initiative on cloud platforms are trying to cope with the security risks, according to Devo Technology’s report

As companies get back on their feet post-pandemic, they’re going all-in on cloud applications. In a recent report by Devo Technology titled “Beyond Cloud Adoption: How to Embrace the Cloud for Security and Business Benefits”, 81% of the 500 IT and security team members surveyed said that COVID accelerated their cloud timelines. More than half of the top-performing businesses reported gains in visibility. In fact, the cloud now outnumbers on-premise solutions at a 3:1 ratio

But the benefits are accompanied by significant cybersecurity risks, as cloud infrastructure is more complex than legacy systems. Let’s dive in. 

 

Why Are Cloud Platforms Taking Over? 

According to Forrester, the public cloud infrastructure market could grow 28% over the next year, up to US$113.1bn. Companies shifting to remote work and decentralised workplaces find it easy to store and access information, especially as networks start to share more and more supply chain and enterprise information—think risk mitigation platforms and ESG ratings. 

Here’s the catch: when you shift to the cloud, you choose a more complex system, which often requires cloud-native platforms for network security. In other words, you can’t stop halfway. ‘Only cloud-native platforms can keep up with [the cloud’s] speed and complexity” and ultimately increase visibility and control’, said Douglas Murray, CEO at cloud security provider Valtix. 

Here’s a quick list of the top cloud security companies, as ranked by Software Testing Help: 

 

What are the Security Issues? 

Here’s the bad news. According to Accenture, less than 40% of companies have achieved the full value they expected on their cloud investments. All-in greater complexity has forced companies to spend more to hire skilled tech workers, analyse security data, and manage new cybersecurity threats. 

The two main issues are (1) a lack of familiarity with cloud systems and (2) challenges with shifting legacy security systems to new platforms. Out of the 500 IT employees from Devo Technology’s cloud report, for example, 80% said they’d sorted 40% more security data, suffered from a lack of cloud security training, and experienced a 60% increase in cybersecurity threats. 

How Will Companies React? 

They certainly won’t stop investing in cloud platforms. Out of the 500 enterprise-level companies that Devo Technology talked to throughout North America and Western Europe, 90% anticipated a jump in cloud security spending in 2021. They’ll throw money at automating security processes and investing in security upskilling programmes. 

After all, company executives will find it incredibly difficult to stick with legacy systems when some cloud-centred companies have found success. Since moving from Security Information and Event Management (SIEM) offerings to the cloud, Accenture has saved up to 70% on its processes; recently, the company announced that it would invest US$3bn to help its clients ‘realise the cloud’s business value, speed, cost, talent, and innovation benefits’. 


The company stated: ‘Security is often seen as the biggest inhibitor to a cloud-first journey—but in reality, it can be its greatest accelerator’. 

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