[Weekly Security News] The Devastating Impact of Cyber Attacks on Small and Medium-sized Businesses

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[Weekly Security News] The Devastating Impact of Cyber Attacks on Small and Medium-sized Businesses

[March 15, 2023]

1. UK Crypto Startup Suffers Major Cyber-attack

UK-based cryptocurrency startup, EXMO, suffered a major cyber attack, resulting in the loss of £4 million worth of digital currencies. This incident highlights the vulnerability of digital assets to cyber attacks and emphasizes the importance of strong cybersecurity measures for SMEs, including cryptocurrency startups. Such businesses should prioritize measures like multi-factor authentication, regular security audits, and employee training to mitigate the risk of cyber attacks and protect their customers’ assets.

Source : DIGIT News

2. 60% Of SMEs That Suffer A Cyber Attack Go Out Of Business Within Six Months

The consequences of a cyber attack can be devastating, not only in terms of financial losses but also the loss of customer trust and reputation. It is crucial for SMEs to prioritize cybersecurity measures such as firewalls, antivirus software, data encryption, and employee training. Investing in cybersecurity can help protect your business from the potentially catastrophic effects of a cyber attack and ensure its long-term survival.

Source : Tech Round

As cyber threats continue to evolve, SMEs are increasingly at risk of cyber attacks that can result in devastating losses. To protect their businesses, SMEs need to implement robust cybersecurity measures, including a fully managed security service. Such services provide perpetual monitoring and management of cybersecurity measures, including firewalls, threat detection and prevention, and vulnerability scanning. By outsourcing their cybersecurity needs to a managed service provider, SMEs can benefit from expert support and guidance, ensuring that their security posture is strong and up-to-date.

Cloudbric WAF+ is for all businesses that primarily lack experience in cybersecurity without their own security experts or those who can’t afford expensive IT security solutions. Cloudbric provides a cloud-based fully managed WAAP (Web Application & API Protection) service that uses logic-based analysis detection technology to block the installation of malware, viruses, ransomware, and other new web security threats through application firewalls.
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