SpyCloud reveals infostealer epidemic, emphasizing the urgency of enhanced cybersecurity

Recent research by SpyCloud, a leading provider of Cybercrime Analytics, has uncovered an alarming trend: infostealers, a type of malware designed to steal digital identity data, are increasingly becoming the precursor to ransomware attacks. This article will delve into the findings of the research and highlight the profound implications for businesses worldwide.
Massive Scale of Identity Exposure

• Over 60% of data breaches in the past year involved malware, with infostealers responsible for stealing 343.78 million credentials.
• One in five individuals has been a victim of an infostealer infection, exposing an average of 10-25 third-party business application credentials per infection.
  Infostealers: The Precursor to Ransomware
• Companies with employees infected with infostealer malware are significantly more likely to experience a ransomware attack.
• Nearly one-third of companies that suffered a ransomware attack last year had previously experienced an infostealer infection.
  The Rise of Malware-as-a-Service and Account Takeover Attacks
• The availability of Malware-as-a-Service (MaaS) enables low-skilled cybercriminals to purchase and deploy infostealers easily.
• Infostealers facilitate account takeover (ATO) attacks by stealing session cookies, allowing cybercriminals to bypass traditional authentication methods and infiltrate networks undetected.
  Traditional Defenses Are Ineffective
• Over 50% of devices infected with infostealers had antivirus or endpoint detection and response (EDR) solutions installed, underscoring their limitations.
• Multi-factor authentication (MFA) and passwordless authentication methods are ineffective against infostealers and session hijacking.
  The Call for Next-Generation Cybersecurity
• Organizations must move beyond removing infections and focus on remediating the long-term risks posed by exposed data.
• This includes resetting compromised application credentials and invalidating session cookies siphoned by infostealers.
  Conclusion
  SpyCloud’s research highlights the critical role of infostealers in the growing threat of ransomware. Businesses must implement next-generation cybersecurity measures that address the unique challenges posed by infostealers. By understanding the risks and taking proactive steps to prevent and mitigate identity exposure, organizations can reduce the likelihood of devastating cyberattacks.