Goldman Sachs Of All People Warn Of Cyber Pandemic; Sounds Like Foreshadowing.

An expert at Goldman Sachs Group cautioned that the escalation of Russia’s conflict with Ukraine might lead to greater “malicious cyber activities” with the potential to cause enormous economic and social repercussions (GSG). According to studies, cyberattacks cost the global economy roughly $1 trillion every year, with two-thirds of them being blamed on Russia in recent years, according to Goldman economist Ronnie Walker. Goldman Sachs economists are concerned as the Ukraine situation escalates tensions between the US, its allies, and Russia. According to Goldman Sachs’ top economist Jan Hatzius on March 7, no Russian-based cyberattacks targeting the US have been found since Russia invaded Ukraine in February. Hatzius, on the other hand, highlighted that rising tensions have “increased the risk” of a cyberwar between the two countries, especially because Russia was blamed for nearly 60% of state-sponsored cyberattacks last year.…

Read More

New Chinese Cyber Espionage Tool ‘Daxin’ Surfaces.

Security researchers at Symantec, a leading cybersecurity firm in the United States, have identified a “very sophisticated” Chinese hacking tool that has remained hidden for more than a decade. According to a US official, the discovery was shared with the US administration in recent months, who then shared the information with overseas allies. On Monday, Symantec, a branch of Broadcom, released its research on the tool, which it calls Daxin. Clayton Romans, associate director of the US Cybersecurity Infrastructure Security Agency, said, “It’s something we haven’t seen before” (CISA). “This is exactly the kind of information we’re looking for.” Along with the new research paper, CISA emphasized Symantec’s participation in the JCDC, a collaborative public-private cybersecurity information sharing cooperation. The Joint Cyber Defense Collaborative, or JCDC, is a group of federal defense agencies, including the FBI and the National Security…

Read More

Iran’s Next Move: A Cyberattack On The Us?.

‘Most people are much more concerned about an attack they can see and feel, and can’t relate to this idea of a clandestine war’… For the overwhelming number of Americans who have little interest in adding a war with Iran to the list of ill-advised, modern U.S. military conflicts, this week brought only confusion about what lies ahead. On the one hand, leaders from both countries veered from full-throated antagonism to wary rapprochements, like a pair of guys who’d traded punches outside a bar, but then decided they wanted to head home before things got really ugly. Yet the international brinkmanship that arguably began when President Donald Trump ordered a Jan. 3 airstrike that killed Iranian Maj. Gen. Qassem Soleimani seems unlikely to have reached its end with Iran’s casualty-free missile attack on U.S. bases in Iraq. Bullets and bombs, after all,…

Read More