One of the busiest ports in the world recently reported that they’ve experienced a sharp increase in the number of cyberattacks targeting them over the last two years. In that time they’ve averaged 40 attacks per month. In other cybersecurity news, T-Mobile reached a $350 million settlement after their 2021 breach.
Hackers breach decentralized music platform
Over the weekend, an unknown number of hackers were able to breach the internal servers of Audius, a decentralized music platform, and steal several million dollars' worth of AUDIO blockchain tokens. The hackers exploited a bug within the initialization code that allowed them to transfer over 18 million tokens from Audius’s community treasury into a privately owned blockchain wallet. The stolen tokens were later traded through Uniswap for a significantly lower value and then passed through a currency mixing service to make any additional tracking even more difficult.
T-Mobile reaches settlement in 2021 data breach
Following the 2021 data breach of T-Mobile that compromised the information for 80 million customers, the company has finally reached a settlement of $350 million. Alongside the settlement, T-Mobile officials have promised to put another $150 million into improving their security measures over the next two years. The settlement covers all the class action cases that have stemmed from this attack and claim T-Mobile did little to prevent an incident like this and was only informed of the attack after the hacker began leaking the stolen data online.
Italian revenue agency falls victim to LockBit ransomware
Officials for the Italian Internal Revenue Service are investigating claims that LockBit ransomware successfully breached their networks and stole upwards of 100GB of data. While the LockBit group have given the victim until August 1 to pay the demanded ransom, the investigating law enforcement agencies have not been able to confirm any intrusions into the agency’s networks or clues that would point towards data being stolen.
Graff jeweler pays $7.5 million ransom
In response to the 2021 Conti ransomware attack on the British jeweler, Graff, the company has negotiated to pay the $7.5 million ransom to the Conti group to stop them from posting any stolen data on the company’s high-profile clientele. While the initial ransom was $15 million, the negotiations were successful in halving it, though Graff has now decided to sue their insurance provider for not taking care of the ransom payment.
Port of LA receives massive influx of cyberattacks
Officials for the Port of Los Angeles, one of the busiest ports in the world, have revealed that they have seen an increase in cyberattacks over the past 2 years, reaching 40 million identified attacks per month. While ransomware and spear phishing are the top types of attacks, the Port of LA must constantly stay ahead of all new types of cyberattacks, which are all aiming to disrupt international commerce and the flow of goods. Over the course of the pandemic, many ports and other critical infrastructure have become highly lucrative targets for various cyberattacks as they typically have lax security measures compared to other industries.
