Hacking imposes fear!
So many devices have been damaged due to hacking. Still, we barely admit the new threats and opportunities that have been unlocked thanks to creative programmers seeing imperfect codes. Usually, most of us have a bias for hacking because it’s a common prejudice that cracking someone’s firewall is the easiest way to illicitly enrich.
Do you remember the WannaCry ransomware attack in May 2017? The worldwide cyber attack by the WannaCry ransomware crypto worm, which targeted computers running the Microsoft Windows operating system by encrypting data and demanding ransom payments in the Bitcoin cryptocurrency has become a scandalous news-maker. The attack was estimated to have affected more than 300,000 computers across 150 countries, with total damages ranging from hundreds of millions to billions of dollars. Security experts believed (from preliminary evaluation of the worm) that the attack originated from North Korea or agencies working for the country.
As the cryptocurrency has matured, it’s often been criticized for its inability to match the performance of existing payment networks and meet the security requirements of financial systems and governments. Let’s me remind you the hottest and the latest incident that took place in January, 2018 hackers stole $400 million from crypto currency exchange Coincheck. The hack appears to be roughly the same scale as the 2014 Mt Gox theft, in which thieves made off with $400 million in bitcoin, causing the Japanese coin exchange to file for bankruptcy.
Mentioned above cases aren’t unique. Ethical hacking has been extremely successful at solving the problem it was designed for: to reveal the gaps in security and to present to organizations what improvements are needed to put sufficient cyber security controls in place.
It’s where most companies need to focus to close those gaps which make them vulnerable to cyber criminals.
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