As cyberattacks grow more insidious,
organizations are ramping up cybersecurity investments to defend
essential services
WATERLOO, ON, Oct. 31,
2024 /PRNewswire/ -- OpenText (NASDAQ: OTEX), (TSX:
OTEX), has revealed its highly anticipated "Nastiest Malware of
2024" list, spotlighting the year's most notorious cyber threats.
Now in its seventh year, OpenText's cybersecurity experts have
identified the most relentless and adaptive malware trends
impacting industries worldwide. This year, ransomware aimed at
critical infrastructure takes center stage, highlighting an urgent
call for reinforced security to protect vital services. In
response, organizations are projected to increase their
cybersecurity investments by 14.3% in 2024, reaching more than
$215 billion.
Once again, ransomware group LockBit secures the #1 spot
as the nastiest malware of the year. Known for its resilience and
relentless pursuit of critical targets, LockBit has successfully
dodged multiple law enforcement crackdowns. According to the FBI's
2023 2023 Internet Crime report, LockBit was reported in 175
attacks on critical infrastructure, underscoring its staying power
and adaptability. The ongoing standoff between the FBI and LockBit
shows the gritty persistence of today's ransomware market and its
growing sophistication. For several months now, the battle for
dominance between the FBI and LockBit has highlighted the
persistence of the ransomware market and how as technology evolves
these threats continually lurk in the shadows.
"Ransomware attacks on critical infrastructure are on the rise,
and cybercriminals are increasingly using artificial intelligence
to develop highly personalized threats, which significantly
endangers national security and public safety," said Muhi Majzoub,
EVP and Chief Product Officer, OpenText. "However, the increased
attention on ransomware and cybersecurity is encouraging, as more
organizations are proactively prioritizing cybersecurity
investments. This commitment highlights their dedication to
safeguarding essential services from evolving threats." The 2024
list showcases how adaptive and innovative each ransomware is, but
also how well these threats push boundaries. With their malicious
capabilities and evasiveness, these cybercriminals continue to find
new ways to surpass our darkest expectations.
2024's Nastiest Malware Hall of Infamy:
- LockBit: This ransomware-as-a-service (RaaS) heavyweight
leads the pack again, unfazed by FBI efforts to take it down.
LockBit's aim? Target one million businesses before calling it
quits, solidifying its spot as a top ransomware menace in
2024.
- Akira: A fresh and ferocious entry, Akira brings a
splash of '80s aesthetics to the dark web, quickly climbing the
ranks with ruthless encryption tactics and swift deployment. It's
especially active in healthcare, manufacturing, and finance,
cementing itself as a go-to Ransomware-as-a-Service (RaaS) model
for affiliates.
- RansomHub: Rumored to be a descendant of the Black Cat
(ALPHV) group, RansomHub burst onto the scene targeting
high-profile organizations. After attacking Planned Parenthood,
this group made headlines by stealing and ransoming sensitive
patient data, threatening public exposure.
- Dark Angels: Known for its laser-focused, high-impact
attacks on top-tier targets, Dark Angels doesn't hold back. Using
advanced infiltration methods, they've secured ransom payments as
high as $75 million, leaving their
mark on one of the year's biggest Fortune 50 attacks.
- Redline: Not ransomware but still formidable, Redline
Stealer specializes in stealing credentials and sensitive
information with skillful evasion tactics, making it a persistent
headache across various sectors.
- Play Ransomware: Making waves with high-profile attacks,
Play Ransomware is as versatile as it is relentless. From targeting
public and private sectors to exploiting FortiOS vulnerabilities
and RDP servers, this group keeps victims on their toes with
ever-evolving techniques.
Want the full rundown? Visit the OpenText Cybersecurity
Community, view the infographic, and join us for our "Nastiest
Malware Webinar" to dive deeper into this year's findings and stay
ahead of emerging threats!
About OpenText Cybersecurity
OpenText Cybersecurity provides comprehensive security solutions
for companies and partners of all sizes. From prevention, detection
and response to recovery, investigation and compliance, our
unified/end-to-end platform helps customers build cyber resilience
via a holistic security portfolio. Powered by actionable insights
from our real-time and contextual threat intelligence, OpenText
Cybersecurity customers benefit from high-efficacy products,
compliant experience and simplified security to help manage
business risk.
About OpenText
OpenText™ is the leading Information
Management software and services company in the world. We
help organizations solve complex global problems with a
comprehensive suite of Business Clouds, Business AI, and Business
Technology. For more information about OpenText (NASDAQ/TSX:
OTEX), please visit us at www.opentext.com.
Connect with us:
OpenText CEO Mark Barrenechea's
blog
Twitter | LinkedIn
Certain statements in this press release may contain words
considered forward-looking statements or information under
applicable securities laws. These statements are based on
OpenText's current expectations, estimates, forecasts and
projections about the operating environment, economies, and markets
in which the company operates. These statements are subject to
important assumptions, risks and uncertainties that are difficult
to predict, and the actual outcome may be materially different.
OpenText's assumptions, although considered reasonable by the
company at the date of this press release, may prove to be
inaccurate and consequently its actual results could differ
materially from the expectations set out herein. For additional
information with respect to risks and other factors which could
occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q and other securities filings with the SEC and other
securities regulators. Readers are cautioned not to place undue
reliance upon any such forward-looking statements, which speak only
as of the date made. Unless otherwise required by applicable
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update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Further,
readers should note that we may announce information using our
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calls, webcasts and the social media channels identified on the
Investors section of our website (https://investors.opentext.com).
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blog, Twitter account or LinkedIn account. The information posted
through such channels may be material. Accordingly, readers should
monitor such channels in addition to our other forms of
communication.
Copyright © 2024 OpenText. All Rights Reserved. Trademarks owned
by OpenText. One or more patents may cover this product(s). For
more information, please
visit https://www.opentext.com/patents.
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