Weekly Recap August 26 2022

  • By Steven
  • Aug 26, 2022

The vocabulary of cybersecurity has progressed after the shift to high-speed internet. Though most people understand the basics of antivirus software, modems, and wireless connectivity, most are unaware of terms such as accidental exposure. Accidental exposure is a type of data breach that stems from flawed computer/internet security. Examples of accidental exposure include FTP misconfigurations and defaults.

There is an important distinction to be made between cybersecurity attacks and incidents. Incidents have unique meanings based on context. Incidents occur when businesses are saddled with susceptibilities but unaware of them. It is quite shocking to consider nearly 1,500 breaches occurred in July. Let's take a quick look at some of the more notable digital offensives of late.

Block Cash App Details

The data exposure at Cash App might have been the work of an insider. The Block Cash App hack stemmed from an internal employee providing a criminal access to internal records. Customers' names, portfolio values, trades, account numbers, and other information were provided to digital miscreants. Reports indicate those victimized by the attack reside in the United States.

The breach is significant as Block's Cash App has soared in popularity in shockingly little time. The data exposure clearly indicates that website owners, business owners, and laypeople should regularly upgrade their cybersecurity and hardware safeguards.

CoinMarketCap Focus of Crypto Heist

Online thieves victimized CoinMarketCap. The criminals took $100,000+ from the crypto platform. The ensuing audit conducted by a digital forensics team revealed an expertly-coordinated offensive to take crypto from Cryptown virtual wallets used to store digital currency. Cryptown is a platform owned by the aforementioned CoinMarketCap.

It appears as though the thieves obtained access to administrator controls to compromise accounts. Crypto hacks are likely to continue for the foreseeable future until the federal government implements regulations or enforces the letter of the law, declaring crypto to be an alternative form of currency and treated appropriately based on historical legal precedent.

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