Cyber assaults through DDoS have spiked since the end of 2023, keeping the telecommunications sector in a state of turmoil
In the digital landscape of today, cyber threats loom large, and one such menace that has shown a significant resurgence is the Distributed Denial of Service (DDoS) attacks. According to various reports, DDoS activity surged last year, and the trend has continued into the first half of 2024.
A March report from Akamai and FS-ISAC highlighted a surge in DDoS attacks against the financial services sector. However, it appears that the manufacturing industry has now taken the lead in facing the largest DDoS attacks, replacing the retail industry in this position. Healthcare is also experiencing more severe DDoS attacks, as per the report.
Key findings from Zayo Group's report indicate a 106% increase in DDoS attacks from the second half of 2023 through the first half of 2024. This significant upward trend in DDoS attacks underscores the need for enhanced DDoS mitigation and network security measures.
The increase in DDoS attacks is based on over 62,000 threat detections among Zayo Group customers during the first half of 2024. Each attack, on average, lasted approximately 45 minutes.
One of the most notable DDoS attacks in recent times was disclosed by Microsoft in late July. The attack took down its Azure and 365 platforms for about eight hours. In response, Microsoft plans to improve monitoring and enhance additional validation on its Azure network by November.
Corporate stakeholders are seeking a better understanding of the risk calculus of their technology stacks, aiming to answer the question: Are we a target? The evolving role of Chief Information Security Officers (CISOs) involves providing corporate stakeholders with a clear understanding of the risks associated with their technology stacks. CISOs also address the question of whether the organization is a potential target for cyber attacks.
It's worth noting that the most targeted industry by DDoS attacks is telecom, making up 57% of attacks. In a notable incident, attackers took advantage of the novel HTTP/2 Rapid Reset zero-day vulnerability in 2023.
The cost of a DDoS attack is substantial. Estimates suggest that DDoS attacks cost organizations about $270,000 per attack, or about $6,000 per minute. With the surge in DDoS attacks, the financial impact on organizations can be substantial.
As we navigate the digital landscape, it's crucial to stay vigilant and prepared against these cyber threats. Enhanced DDoS mitigation and network security measures, coupled with a clear understanding of the risks associated with technology stacks, can help organizations mitigate the impact of these attacks.
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