Newsletter

02.08.2022 | 6'' read

Flattening the ransomware curve

by Ryan Naraine

* The most clicked link from the last newsletter was Kaspersky’s technical report on the Moonbounce UEFI implant.  Kim Zetter’s piece on Joe Grand’s hardware wallet hacking was also very popular.

Monday blues.

A cautious hello to the droves of new folks joining the list over the last two weeks. I’m flattered and surprised, especially because I deliberately avoid marketing and promotion of this newsletter.
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If you dig honest feedback from a curmudgeon documenting the business of security through cynical lens, you’ll probably enjoy these weekly emails.  My tone is blunt but the coverage is fair and never malicious. I usually get things wrong so don’t hold back with the required corrections (Twitter DMs are open).

If my style isn’t your cup of tea, unsubscribe and reclaim your valuable inbox space. No hard feelings.

Today is Patch Tuesday. Get off TikTok your phone and update/reboot all the things.

Cheers,

_ryan

Flattening the ransomware curve.

I wrote a feature story today about an interesting confluence of factors powering a rare win in the fight against ransomware.  After multiple conversations with Coveware’s Bill Siegel, here are the four things helping to flatten the curve after last year’s explosion in data-exfiltration/extortion attacks.

  1. Law enforcement pressure. Takedowns and arrests in Russia are a real deterrence and we’re starting to see ransomware gang affiliates being a lot more careful and selective about targets. The downside is that small- and medium-sized businesses will continue to deal with a world of hurt.
  2. The Biden executive order on cybersecurity is shoring up the security posture of federal agencies and the vendors in that ecosystem.  The mandates around zero-trust, multi-factor authentication and data encryption are starting to trickle out and benefit the rest of computing.
  3. CEO and boardroom-level anxieties about being the next victim testifying before congress have led to expanded security budgets and genuine top-down support for under-resourced CISOs.  When ransomware is a CNBC topic, CEOs take note.
  4. Cyber insurance renewals are driving maturity around incident response and disaster recovery playbooks.  To qualify for policy renewals, companies must attest to MFA segmentation, adequate back-ups,, and mature tabletop testing and planning. Win, win, all around.

More from Coveware with fresh ransomware data and some thoughts on how criminal ecosystem is dealing with the blowback

Sponsored.

  • Join us on Wednesday, February 23 for SecurityWeek’s Attack Surface Management Summit, presented by Randori. Learn from experienced CISOs, cloud software engineers, network architects, and security response engineers about  best practices, defense frameworks and actionable data and to reduce risk from exposed attack surfaces. Free registration here.

Important people on the podcast.

Security Conversations podcast guests Heather Adkins (Google) and Katie Moussouris (Luta Security) have been named to the U.S. government’s first-ever Cyber Safety Review Board (CSRB). Listen to the episodes:

One small observation on the CSRB announcement:  The board was originally set up with the Solarwinds mega-hack as the priority but has already pivoted to focus on Log4j.  How quickly we move on to the next thing…

Patch Tuesday.

Today is the dreaded Patch Tuesday.  Here are the ones worth your attention:

So far in 2022, the documented in-the-wild zero-day counter  stands at three (3).
News headlines. 

Sponsored.

  • Using Symmetry DataGuard, cloud-security teams tighten IAM policies around data, incident response teams know precisely what data objects are involved in a breach, and governance teams audit every access across every data store. Schedule a demo.

Must-read reporting.

Research projects.

Essays.

Tangentially.

P.S. Full podcast episodes are available on the SecurityConversations.com home page, and on all major platforms. Subscribe directly: Apple/iPhoneGoogle/AndroidSpotify and Amazon/Audible.
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