As we feared, Ukraine-Russia crisis leads to a surge in cyber attacks

As we feared, Ukraine-Russia crisis leads to a surge in cyber attacks

As we’re nearing a month into the conflict between Russia and the Ukraine, cyber warfare between the two countries is reaching an all time peak. We covered the topic of Ukraine’s “IT Army” recently in this blog, and we mentioned growing concerns we’ve seen from users that there may be a spill over effect when it comes to cyber threats.

Cyberwarfare was inevitable as conflicts on the ground continue on, and as Russian hackers feel the “pinch” of the effects of sanctions imposed against Russia, we may see an uptick in financial scams. Especially as both countries have turned to cryptocurrency which can often be used as a safe haven for financial transactions taking place outside the public eye. In the case of Russia it’s being used to try and liquidate funds out of the country and in the case of the Ukraine they’re using crypto to bolster support for their economy.

We have created this chart for the types of financial scams we think may increase in the coming days (though it should be noted, financial scams were already up 70% in 2021).

Cyber Financial Scams Chart

Click to download the full size version.

However, hackers have also represented a beacon in the war of information currently happening between Russia and the Ukraine. Ukraine’s “IT Army” is now over 400,000 people strong, with hackers from all over the world lending their support digitally in Ukraine’s effort to protect their democracy.

DDoS attacks on government sites with Russian origins as well as document leaks – which includes a 360k file data dump from a Russian federal agency – are continuing to happen regularly. It’s estimate that over 90% of exposed Russian cloud databases have been compromised at this point.

Also, with access being restricted to sites like Twitter and other social media platforms being restricted in Russia, Squad303 is a website that was created by a group of Polish programmers that can help foreigners relay information to Russian citizens. The website founders say that over 7 million text messages and 2 million emails have been sent through the site so far.

We again want to say we don’t know what the outcome of this conflict will be, but it seems clear that consumers and businesses should be wary of the ripple effects that will occur throughout the cyber sector, possibly for years to come.

Business owners who still believe they’re “too small” to be a target should be wary that proceeding with out cybersecurity protections may make them the low hanging fruit for hackers reacting to a state of desperation. Cybersecurity protections are a worthwhile investment in your future and the peace of mind in questionable times is priceless.

At Valley Techlogic, we’re experts in the field of cybersecurity. We can perform an evaluation of your business and tell you where you are now and where you need to be to not worry that your business is “ripe for picking”. Schedule a consultation today to learn more.

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This article was powered by Valley TechLogic, IT service provider in Atwater, CA. You can find more information at https://www.valleytechlogic.com/ or on Facebook at https://www.facebook.com/valleytechlogic/ . Follow us on Twitter at https://x.com/valleytechlogic.