Nowadays, it seems like everytime you open a newspaper, there’s another major cyber attack.
When JBS, the world’s largest meat packer, fell victim to a massive ransomware hack the White House confirmed it was courtesy of our “good friends” in Russia. With its computer networks under assault, JBS was forced to shut down its five largest beef processing plants, hurting food supplies.
This hack was just one of the many examples of recent “ransomware” attacks -whereby hackers breach a victim’s computers, encrypt them so the victim can’t access their files, and then demand a ransom payment to reverse the encryption. What’s more, Microsoft Corp. (MSFT) said Russian hackers have staged cyberattacks on more than 150 government agencies and other organizations around the world.
And who could possibly forget the Colonial Pipeline attack from early May. Colonial carries 45% of the East Coast’s fuel supply, so when Russian-based hackers from the DarkSide criminal group forced the company to close the system down, there was panic buying of gasoline across the East Coast.
Keeping track of the major hacks can just about make your head spin. It’s no wonder the cyber security sector is growing at more than 10% a year and is worth $180 billion.