Cyber Threat Report: Cyber Security News for 09/21/23

Azure Storage Compromised in the Latest BlackCat Ransomware Attack
This version introduces new functionalities and has been employed to encrypt Azure Storage accounts and evade detection efficiently. Read More

Former Cio Accuses Penn State Of Faking Cybersecurity Compliance
Penn State had disregarded some of his recommendations that may have left controlled unclassified information (CUI) exposed. Read More

Fake WinRAR Exploit PoC drops VenomRAT Malware
An unknown threat actor moved quickly last month to commit a fake PoC to their GitHub repository, claiming it was an exploit for a new WinRAR vulnerability made public four days earlier. Read More

Trend Micro Releases Urgent Fix for Actively Exploited Critical Security Vulnerability
Successful exploitation of the flaw could allow an attacker to manipulate the component to execute arbitrary commands on an affected installation. The company warned that it has "observed at least one active attempt of potential exploitation of this vulnerability in the wild," making it essential that users move quickly to apply the patches. Read More

Average Annual Cost of Insider Incidents Reaches $16.2m Per Organization
The research also found that the number of insider incidents has increased to 7343 from 6803 in the past year. Read More

US Cyber Insurance Claims Spike Amid Ransomware, Funds Transfer Fraud, BEC Attacks
Cyber insurance claims frequency increased by 12% in the first half of 2023 while claims severity increased by 42% with an average loss amount of more than $115,000. Read More

Clorox Blames Damaging Cyberattack for Product Shortage
Clorox says the recent cyberattack has been contained, but production is still not fully restored and there is a short supply of products. Read More

SEC cyber disclosure rules: What’s the role of the CIO?
A four-business-day clock starts ticking on a window in which publicly traded companies will be required to disclose the event to the SEC. Read More

Microsoft AI Researchers Leak 38TB of Private Data
The account contained 38TB of additional data – including Microsoft employees’ personal computer backups. The backups contained sensitive personal data, including passwords to Microsoft services, secret keys, and over 30,000 internal Microsoft Teams messages from 359 Microsoft employees. Read More

Access Control In Cloud-Native Applications In Multi-Location Environments
NIST releases Special Publication (SP) 800-207A – “A Zero Trust Architecture Model for Access Control in Cloud-Native Applications in Multi-Location Environments. Read More

HEADLINE PRIVACY & IT SECURITY COMPLIANCE NEWS

Well-known ransomware group, BlackCat, recently deployed a newly discovered variant known as Sphynx, introducing enhanced functionalities. This variant was utilized to encrypt Azure Storage accounts, marking a significant development. The attackers infiltrated a victim's Sophos Central account, disabling security features and manipulating policies, all while obtaining the OTP from the victim's LastPass vault via the LastPass Chrome extension. This incident underscores the evolving tactics of ransomware groups, emphasizing the urgency for organizations to bolster their security measures, including MFA, patching third-party extensions, and staying vigilant against evolving ransomware strategies.

In the wake of a cybersecurity incident at Penn State University, the institution's CIO, Mary Ann Blair, has highlighted the critical importance of cybersecurity investments. The attack, described as "serious" by Blair, resulted in the compromise of sensitive data. She emphasized the need for increased funding and resources to bolster cybersecurity defenses and protect the university's digital infrastructure in the face of growing cyber threats.

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