A Russia-based cybercrime group, known for using ransomware to extort millions of dollars from U.S. and European companies, vowed on Friday to attack enemies of the Kremlin if they respond to Russia’s invasion of Ukraine.
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The Russia and Ukraine conflict has been boiling for years, and the pot has finally boiled over. Vladamir Putin ordered the invasion and has warned NATO and The United States that if they intervene, there will be consequences such as you’ve “never seen in history.” The whole situation has the world on edge, and this war is being fought not only on the ground but also online.
Propaganda is sure to be coming from both sides and their supporters, and it is often hard to get the best clear picture of everything. Cyberwar is already happening, and a Russia-based cybercrime group has warned supporters of Ukraine to stay out of the conflict, or they will attack those who go against Russia.
Here’s what two cybersecurity experts had to say about the situation unfolding now.
Regardless of the threat of a specific gang or actor, it is a time when companies need to be very proactive of their security. Let alone the political ramifications and potential fallout of the conflict, criminals are opportunistic and will look to take advantage of any confusion and chaos to strike.
The targets, countries in this case, aren’t necessarily concerned about threats from a criminal gang. This is a bit of posturing and coming out in support of your sponsor. Threatening the US and/or law enforcement agencies is usually not a good idea. They tend to have long arms and longer memories.”Purandar Das – CEO and Co-founder of Sotero
“Depending on how the military legal experts classify Conti and any ransomware attacks perpetrated by cyber threat actors acting “on behalf of” Russia, organizations may find that their cyber liability insurance doesn’t help them.
In November, Lloyd’s Market Association published updates to their cyber liability policies that specifically address the war exclusion. Notably, these changes mentioned cyber operations carried out in the course of war. As part of risk mitigation, companies should begin reviewing their cyber liability insurance exclusions and make sure that they question their carriers about their position on this issue.”Karen Walsh – CEO and Founder at Allegro Solutions
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Last Updated on February 26, 2022.