Some entity commandeered a database belonging to the city of Detroit in April, freezing the system and ordering a bitcoin ransom of more than $800,000 for return of control. Lucky for then newly-inaugurated Mayor Mike Duggan, the information on the index was not critical to city operations, and they were able to evade the pricey demand.
More than half of U.K. firms would consider hiring a hacker or someone with a criminal record to tackle new cyber challenges, according to a survey by KPMG of 300 senior IT and HR pros at U.K. organizations.
In three years' time, 80 percent of a CIO's time will be spent on cybersecurity, analytics and creating new digital revenue streams, predicts market research firm IDC in its FutureScape for CIO Agenda report.
Treasury Department officials are considering ways to bolster third-party vendor security for U.S. financial institutions, the New York Times reports.
BitSight Technologies' acquisiton of Portugal-based threat analytics firm AnubisNetworks is an effort by the U.S. firms to expand into other markets and beef up its big data analytics capabilities.
The number of security incidents soared 48 percent this year to 42.8 million, or the equivalent of 117,339 attackers per day, according to The Global State of Information Security Survey.
Apparently, General Motors doesn't want a high-profile security breach to be added to the list of its current woes involving massive recalls because of defective products.
The National Institute of Standards and Technology has awarded defense contractor MITRE an initial $29 million contract to support the National Cybersecurity Center of Excellence, set up in cooperation with Maryland to assist private sector firms with cybersecurity. The contract could be worth up to $5 billion over a 25-year period.
Many Bitcoin enthusiasts believe the function behind the new tech is already superior to fiat currencies, and the reasons virtual currencies haven't taken over the world yet are perception based. Wences Cesares, CEO of Bitcoin security startup Xapo, says the technology needs broad international acceptance before it can be taken seriously, and organizations like his are pushing the message.
Critical infrastructure upon which the industrial world depends is a cybersecurity sieve. That is one conclusion that can be drawn from a survey of nearly 600 security executives at critical infrastructure companies by The Ponemon Institute on behalf of Unisys.