While Still Recovering, Global Supply Chains Threatened by Hackers Launching Cyberattacks | #government | #hacking | #cyberattack


As the global supply chain struggles to recover from the pandemic’s tremors, which have affected almost every industry, cyber thieves are swooping in to exploit the flaws to cause even more severe disruption.

Hackers Targeting Supply Chains

(Photo : Image by Comfreak from Pixabay )

Hackers are now targeting all critical industries in the global supply chain, according to a research from cyber intelligence firm Intel 471.

“Throughout the year, we’ve seen ransomware assaults on the transportation industry,” the study added, “undoubtedly putting a burden on enterprises that are already stretched tight owing to the epidemic.”

Cybercriminals have been seeking to sell the network access credentials of various shipping and logistics organizations on the underground cybercrime market in recent months.

Related Article: Can Worsening Climate Crisis Make Supply Disruptions the “New Normal”?

Intel 471 Report

According to Intel 471, the targeted enterprises were transportation corporations in the United States, a Japanese container shipping firm, and other logistics firms situated in the United Kingdom, Singapore, and the United States.

“The criminals, who ranged from novices to experienced network access brokers, got the network credentials by exploiting well-known vulnerabilities in remote access solutions such as Remote Desktop Protocol, Citrix, and SonicWall,” according to the research.

In October, Marten Transport, a prominent U.S. trucking firm, was struck by a hack that severely interrupted operations and resulted in data theft. In August, a cyberattack was launched on the Port of Houston.

Increased Cyberattacks

(Photo : Pixabay)

Ransomware attacks on transportation and logistics companies have increased dramatically since early 2020.

Since last year, 93 percent of worldwide firms have experienced a direct breach owing to supply chain issues, according to cybersecurity services firm BlueVoyant. In the previous 12 months, the average number of breaches increased from 2.7 in 2020 to 3.7 in 2021. This is a 37 percent rise from a year earlier.

Furthermore, the proportion of organizations admitting they have no method of knowing if a breach has happened in their supply chain increased from 31% to 38%.

Overall, ransomware assaults increased by 158 percent in North America and 62 percent in 2020, compared to the previous year. The overall sum paid (at least for the occurrences recorded) was $350 million, up 311 percent of the prior year.

While it was increasing internationally in 2020, the ransomware assault on Colonial Pipeline, a prominent U.S. petroleum pipeline firm, drew the attention of authorities throughout the world.

US Increasing Cybersecurity

President Joe Biden issued an executive order to boost the nation’s cybersecurity and secure federal government networks after the White House voiced worry about ransomware assaults on crucial infrastructure.

Several attacks on US-based organizations have been blamed on Russian hackers, according to U.S. intelligence authorities.

There were also hundreds of Microsoft Exchange Server zero-day assaults, a SolarWinds data leak, a Kaseya ransomware attack, and a supply interruption at meatpacker JBS, in addition to the Colonial Pipeline incident.

President Joe Biden issued an executive order to boost the nation’s cybersecurity and defend federal government networks in response to ransomware assaults on crucial infrastructure.

Several attacks on U.S.-based organizations have been blamed on Russian hackers, according to U.S. intelligence authorities.

There were also hundreds of Microsoft Exchange Server zero-day assaults, a SolarWinds data leak, a Kaseya ransomware attack, and a supply interruption at meatpacker JBS, in addition to the Colonial Pipeline attack.

Also Read: US and China Surprised Everyone as the Giants Came to a Climate Agreement at COP 26

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