News Recap #1 : Most important cyber security news of the week | cybernews.com
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A week can be a long time in the cyberworld, so you might have missed some of the important news from this week. Let us recap the highlights of this week’s cybernews.
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// Timestamps //
0:00 The US is after a Russian hacker gang
1:42 State of emergency in Costa Rica
3:53 European Satellites were hacked by Russia
5:41 Lincoln College shuts down over a cyberattack
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Our first point of concern is the Department of State offering a reward of up to 15 million dollars for information on the Russia-based Conti ransomware gang.
The reward comprises 10 million dollars for information leading to the identification and location of Conti leaders and 5 million dollars for information resulting in the arrest of anyone conspiring with Conti.
State Department spokesman Ned Price has said that – « In April 2022, the group perpetrated a ransomware incident against the Government of Costa Rica that severely impacted the country’s foreign trade by disrupting its customs and taxes platforms »
This prompted the newly elected President Rodrigo Chaves to sign the decree on a national cybersecurity emergency during his first day in office.
President Chaves was inaugurated on May 8 and declared a state of emergency due to cyberattacks on his first day in office.
The presidential decree declares a national emergency in the entire public sector. It is meant to provide the state with additional resources to combat the fallout from a Conti cyberattack the country suffered in April.
Conti started operating in late 2019, and it runs Conti.News data leak site. The group gets initial access through stolen RDP credentials and phishing emails with malicious attachments.
Last month, the group attacked the Government of Costa Rica, severely impacting the country’s foreign trade by disrupting its customs and taxes platforms.
The attackers stole over 670 gigabytes of data from government institutions and had been gradually leaking the information since mid-April. The Ministry of Finance was the first to suffer from the attack, sparking fears that hackers got a hold of taxpayer information.
True, cyberattacks can be devastating, to both individuals and organisations.
Recently Lincoln College, a liberal-arts school, has found itself utterly devastated by cybercrime.
A college that was established in 1865, and that survived many challenges, such as the economic crisis of 1887, a major campus fire in 1912, the Spanish flu of 1918, the Great Depression, World War II, and the 2008 global financial crisis.
However, modern crime coupled with the coronavirus pandemic was too much to take.
A message on the school’s website claims that Lincoln College suffered from a cyberattack last December. The incident thwarted admissions activities and hindered access to institutional data.
The institution has worked tirelessly to strengthen its financial position through fundraising campaigns, selling assets, consolidating employee positions, and exploring other alternatives.
Unfortunately, these efforts did not create long-term viability for Lincoln College in the face of the pandemic.
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