Cyber attacks are only getting bigger, not smaller: Threat Intelligence

Security vendor points to the Mt. Gox collapse as a sign of bigger things to come

The scale and impact of cyber attacks are dramatically increasing each year, according to Threat Intelligence.

Ty Miller, CEO of the local security company, points to the discovery of what is being claimed by another security firm, Hold Security LLC, as the “biggest ever” cyber attack .

What made this campaign significant is the 360 million accounts and 1.25 billion email addresses that were attributed to the hack.

Miller said the growth in hacks is due to cyber criminals becoming bolder and focusing on high value targets in order to steal large amounts.

“This all started with the major Sony security breach in 2011 where 77 million accounts were compromised,” he said.

“At the time, this was one of the largest data breaches in history.”

Following that, LivingSocial and Evernote were breached in 2013, as well as Adobe and Target.

The attacks have reached a stage where Miller said 360 million records and 1.25 billion email addresses are at risk this year.

“The amount of data that is being put onto the Internet is only getting bigger, and so will the security breaches,” he said.

Digital collapse

The common data being stolen at the moment is email addresses, usernames and passwords, as well as social media accounts, credit card numbers and bitcoins.

That latter has been making headlines lately, with major bitcoin exchange, Mt. Gox, declaring bankruptcy after a $450 million dollar security breach.

With lists of compromised accounts being posted online, Miller recommends searching to see if an email address or username is included in the breach.

“If the list hasn't been published, the best action to be taken would be to setup two-factor authentication on each of your accounts," he said.

"Change your password not just on your email but on all accounts that use the same password,”

Patrick Budmar covers consumer and enterprise technology breaking news for IDG Communications. Follow Patrick on Twitter at @patrick_budmar.

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