CloudSEK’s 2024 report reveals heightened cybersecurity challenges

CloudSEK has released its 2024 Threat Landscape Analysis, shedding light on the increasing scale, sophistication, and impact of cybercriminal activity. This in-depth report identifies emerging vulnerabilities, targets, and trends while offering actionable strategies to enhance cybersecurity defenses.

The report exposes the thriving ecosystem of cybercrime, particularly on the dark web. It identifies 45 highly active threat actors responsible for trading over 534 terabytes of stolen data, including personal identifiable information, medical records, and government files. Key platforms like BreachForums and Leakbase remain critical hubs for these illicit activities, with BreachForums experiencing a resurgence following a brief FBI seizure.

Industries and regions hit hardest

The report highlights the retail, IT, technology, and communications sectors as the hardest hit, with retail alone accounting for over 230 victims. Geographically, the United States led as the most targeted nation with 140 attacks, followed by India, which suffered 95 attacks due to rapid digitization, and Israel, which saw 57 incidents amid geopolitical tensions.

The escalating danger of ransomware

Ransomware attacks escalated in scale and sophistication, with average ransom demands surpassing $2 million. Industries like manufacturing, healthcare, and real estate bore the brunt of these attacks, which increasingly employ double and triple extortion tactics. Over 994 terabytes of data were exfiltrated in 2024, highlighting the evolving strategies of groups like LockBit 3.0 and RansomHub.

Exploiting security vulnerabilities

The speed at which cybercriminals weaponized newly disclosed vulnerabilities underscores the urgency of timely patch management. Notable exploits such as CVE-2024-4577 and CVE-2024-24919 targeted enterprise and government networks, while zero-day vulnerabilities showcased the sophistication of attackers. Vendors like Microsoft, Fortinet, and Linux faced the highest number of exploited flaws.

Strengthening cyber resilience

CloudSEK recommends robust measures such as timely patching, AI-driven threat monitoring, strengthened access controls, and comprehensive incident response planning. The firm also emphasizes fostering cybersecurity awareness and collaboration between public and private entities to share intelligence and combat emerging threats effectively.

The report underscores the critical need for proactive measures as cybercriminal activity continues to grow in complexity and scope.