In 2024, the cybersecurity landscape was marked by several significant attacks that underscored the evolving tactics of cybercriminals and the vulnerabilities within various sectors.
The most surprising thing about the 5 largest cyber attacks is – like most things – a few simple changes could have prevented them.
Largest Cyber Attacks
Below are some of the largest cyber attacks of the year, what transpired, and preventive measures that could have mitigated their impact:
1. North Korean Cryptocurrency Heists
What Happened: North Korean hackers, notably the Lazarus Group, orchestrated multiple cryptocurrency thefts totaling over $650 million. Significant breaches included a $235 million theft from India’s WazirX exchange and a $308 million theft from Japan’s DMM Bitcoin, leading to the latter’s closure. Attackers employed sophisticated social engineering and phishing techniques, often masquerading as potential employers or business partners to deploy malware like TraderTraitor and AppleJeus.
Preventive Measures:
- Employee Training: Regular training to recognize and report phishing attempts and social engineering tactics.
- Advanced Threat Detection: Implementing robust security solutions capable of identifying and neutralizing malware before it causes harm.
- Strict Access Controls: Enforcing the principle of least privilege to limit access to critical systems and data.
2. Salt Typhoon’s Infiltration of U.S. Telecommunications
What Happened: The Chinese espionage group Salt Typhoon breached the systems of major U.S. telecommunications companies, including Verizon and AT&T. The attackers accessed sensitive metadata, such as call logs and text message details, and, in some cases, intercepted actual call recordings. High-profile individuals, including political figures, were among those targeted.
Preventive Measures:
- Network Segmentation: Dividing networks into segments to contain breaches and limit lateral movement by attackers.
- Regular Security Audits: Conducting comprehensive audits to identify and remediate vulnerabilities in network infrastructure.
- Enhanced or Persistent Threat Monitoring: Deploying advanced monitoring tools to detect unusual access patterns indicative of a breach.
3. Ransomware Attack on Change Healthcare
What Happened: Change Healthcare, a key player in the healthcare sector, suffered a massive ransomware attack that disrupted services and affected over 100 million individuals. The attack led to significant operational challenges and highlighted the vulnerabilities within critical healthcare infrastructure.
Preventive Measures:
- Regular Backups: Maintaining up-to-date, offline backups to ensure data can be restored without yielding to ransom demands.
- Patch Management: Promptly applying security patches to address known vulnerabilities that ransomware exploits.
- Incident Response Planning: Establishing and regularly updating an incident response plan to react swiftly to ransomware incidents.
4. Snowflake Account Breaches via Stolen Credentials
What Happened: Cybercriminals used stolen passwords to access Snowflake accounts of companies like Ticketmaster and AT&T. This breach compromised sensitive data and demonstrated the risks associated with inadequate credential management.
Preventive Measures:
- Multi-Factor Authentication (MFA): Requiring MFA to add an extra layer of security beyond just passwords.
- Credential Management and Complex Passwords: Implementing robust policies for password complexity, regular updates, and monitoring for compromised credentials.
- User Education: Training users on the importance of password security and recognizing phishing attempts that seek to steal credentials.
5. Transport for London Cyber Attack
What Happened: Transport for London (TfL) experienced a cyber attack that prompted an investigation by the National Crime Agency. While services remained operational and customer data appeared uncompromised, the incident highlighted the susceptibility of public infrastructure to cyber threats.
Preventive Measures:
- Comprehensive Security Measures: Implementing robust cybersecurity protocols to protect public infrastructure.
- Regular Vulnerability Assessments: Conducting frequent assessments to identify and address potential security weaknesses.
The largest cyber attacks of 2024 underscore the critical importance of proactive cybersecurity measures across all sectors as well as how simple it is to get these in place. Organizations must invest in employee training, advanced security technologies, and robust incident response strategies to mitigate the risk of such attacks. By learning from these incidents and implementing the recommended preventive measures, businesses can strengthen their defenses against the ever-evolving landscape of cyber threats.
