Few things put more fear into the hearts of IT departments than the thought of a massive cyber attack — and for good reason. In 2017, the average cost of security breaches for U.S. organizations was estimated at $3.5 million. But it’s not all about the money. In addition to the financial burden caused by cyber attacks, the loss of client trust and credibility post-breach can be extremely difficult to bounce back from.
We don’t know how this malicious code was injected on Newegg’s billing page, but we do know how Newegg could have drastically decreased the likelihood of a breach.
CNN recently estimated that in the first six months of 2018, the cryptocurrency market lost approximately $731 million to hackers and theft. One of the most famous software breaches—which caused major panic in the market—involved Cointhumb, a cryptocurrency exchange with more than 1 million users. In this breach, hackers stole around $32 million from customers’ wallets.
Statistics published by the Journal of Hospital Medicine in July 2017 show that despite the persistent campaign to educate the healthcare community about the problematic nature of pagers and unsecured messaging, both continue to be popular technologies.
Nothing fills out the “worst-case scenario” column quite like a data breach. For the countless teams out there who work hard to protect their customers’ data, the idea of compromising that trust is a nightmare. Data breaches are on a lot of minds lately with the 2017 Equifax data breach, which exposed personal data from 143 million American consumers. The company, security industry, and regulators have a huge task of working out the details on how something like this happens.
