- A fast-moving ransomware strike recently infected servers made by California-based cloud computing giant, VMWare, leveraging known vulnerabilities previously disclosed by this software company
- Ransomware continues to be one of the top digital threats and the problem is exacerbated by poor cybersecurity practices, such as lapses in adequate vulnerability management
- The attack is the last in a series of reminders that businesses need reliable cybersecurity systems and practices provided by companies like Data443 Risk Mitigation to combat malicious attacks instigated by cybercrime perpetrators
Cybercriminals are striking again, reminding the public that they are quick to detect and take advantage of any vulnerabilities left uncovered. A large ransomware campaign has been launched recently to target VMware ESXi hypervisors worldwide, potentially compromising around 3,800 vulnerable servers globally (https://ibn.fm/NaXEk). In what seems to be a wave of attacks, cybercriminals appear to be exploiting a heap overflow vulnerability with an “important” severity rating to access vulnerable servers. As a result, ransomware alerts spread like wildfire worldwide, ushering thousands of companies to perform urgent system scans as they rushed to detect any signs of compromise. Events like this remind us that cyber perpetrators are on the constant lookout for businesses’ blind spots that suffer from sloppy cybersecurity practices. With a mission focused on preventing cyber incidents like this, Data443 Risk Mitigation (OTC: ATDS) remains committed to supporting business-critical data in flight and at rest, while meeting the growing need for data discovery, governance, and protection services.
Over the past years, cybersecurity has become much more than a buzzword – it has become a necessity. In the wake of cyberattacks that grow in frequency and scale, cybersecurity serves as the wall keeping criminals from compromising sensitive data and taking down networks or systems which disrupt normal operations. Companies that don’t have adequate cyber protection systems are exposed to a massive threat that can ruin their relationships with customers, employees, and other stakeholders and expose businesses to considerable legal risk. VMware, a California-based cloud computing giant that produced the affected servers, publicly released patches for this vulnerability two years ago. Still, as it turns out, there are many businesses that have not yet applied the patch and thus left themselves open to this malicious attack. This latest strike goes to show that cyber security hygiene is vital for preventing ransomware attacks.
In today’s world, where more and more business and personal lives are online, cyberattacks are considered the world’s fastest-growing crime. As new digital devices become ubiquitous and we grow reliant on emerging digital technologies, including self-driving cars, and smart home security systems, we continue to be increasingly vulnerable to cybercrime threats as criminals find new ways to steal and abuse that data for their financial gain.
In the latest report, the FBI’s Internet Crime Complaint Center revealed that it received 847,376 complaints regarding cyberattacks and malicious cyber activity that caused almost $7 billion in losses in 2021. Moreover, the losses from hacking incidents skyrocketed at the rate of 64% year over year. Therefore, it is no surprise that the global cybersecurity market is expected to snowball with a projected CAGR of 12.8% from 2022 to 2030, generating USD 657.02 billion by the end of that period (https://ibn.fm/JZEiF). And nowadays, it appears that no business is safe from malicious cyber activity. As more and more large corporations invest in cybersecurity infrastructure, criminals are increasingly targeting small and medium-sized companies, which tend to have less resilient cyber protection (https://ibn.fm/IEkMG).
In a heated environment like this, where criminals are quick to adapt and take advantage of exposed vulnerabilities, Data443 Risk Mitigation has emerged as a critical player within the cyber security space with an extensive product suite and comprehensive toolset designed to help companies securely manage data on-premises, in the cloud and in hybrid environments. The Company helps customers prioritize risk, detect security gaps, and implement adequate data protection and privacy management procedures by providing a comprehensive range of products and services, including data archiving, file sharing, ransomware recovery and access control to sensitive content management and global privacy management.
Strategically positioned to benefit from the growing demand for data protection as technologies and practices designed to keep systems and digital data safe are becoming top of mind for companies around the world, Data443 Risk Mitigation is poised to expand its product reach to include some of the world’s largest organizations. With more than 10,000 customers across 100 countries, the Company boasts an impressive lineup of clients, including a Fortune 500 Fintech, a major U.S. energy provider, and a leading global investment bank headquartered in New York City.
Data443 Risk Mitigation, Inc. (ATDS) Investor Relations
Matthew Abenante
ir@data443.com
919-858-6542
For more information, visit the company’s website at https://data443.com/.
NOTE TO INVESTORS: The latest news and updates relating to ATDS are available in the company’s newsroom at https://ibn.fm/ATDS
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