When we look at the intersection of cryptocurrency and domain data, we see something insidious: The prevalence of crypto-related threats. And it's not just cryptojacking. It's not even the use of cryptocurrency which has made ransomware attacks easier for threat actors to commit and all the more widespread. As with nearly every trend, there is always someone looking to capitalize on it and use it for their own, personal gain. Ever since cryptocurrency became the pandemic hobby of choice, threat actors have begun to target crypto novices for their schemes.
With cybercrime on the rise, companies in 2021 have experienced increased ransomware attacks, business email compromise (BEC), phishing attacks, supply chain attacks, and online brand and trademark abuse. While domain cyber risk is rising, the level of action being taken by Forbes Global 2000 companies to improve their domain security posture has remained unchanged, leaving these companies exposed to even more risk. The risk of not addressing your domain security can be catastrophic.
There's a bit of a debate going on about whether the Kaseya attack exploited a 0-day vulnerability. While that's an interesting question when discussing, say, patch management strategies, I think it's less important to understand attackers' thinking than understand their target selection. In a nutshell, the attackers have outmaneuvered defenders for almost 30 years when it comes to target selection.
It was not without a little trepidation that I planned the 2nd DNS Abuse Institute Forum to focus on the long-standing and often contentious definitional issues surrounding DNS Abuse. While the risk of getting stuck in the usual entrenched positions was real, it seemed to me that we had an opportunity to provide some clarity and if not change minds, at least provide perspective.
Managing the risk of third parties has become a compliance focus for many large organizations. Companies even work with third-party service providers and external vendors just to manage this risk. The recent SolarWinds attack escalates the critical need for chief compliance officers to collaborate with their business counterparts to identify and mitigate potentially unknown threats that lie within third-party supply chains. Yet how can companies manage this risk when it's not if but when you're attacked?
Domain name abuse is one of the most dangerous and under-regulated issues in digital business security today. Many of the largest companies in the world still lack basic domain security protocols, making them prime targets for bad actors. An attack on a domain can lead to the redirection of a company's website, domain spoofing, domain and domain name system (DNS) hijacking attacks, phishing attacks, network breaches, and business email compromise (BEC).
Efforts have been ongoing in the ICANN community to develop a better understanding of its role in the combat of abuse. This theme has been rising in prominence every year since 2018, and 2021 appears to be the tipping point, in which consensus has built around the idea that more can be accomplished in terms of reducing the impact of rogue actors using the Internet for malicious purposes.
Cyber attackers are very skilled at infiltration. They'd find ways into a house through cracks and holes that the homeowner doesn't know about. Analogically speaking, that's what the new cyber attack group dubbed "Hafnium" did when they identified several zero-day Microsoft Exchange vulnerabilities to get into target networks. With thousands of users for every Microsoft Exchange server, the attack has far-reaching implications. First, it establishes the presence of a new threat actor group in town. What else could they be up to?
Completely eradicating malware, botnets, phishing, pharming, and spam from the Domain Name System is not possible. That may be an odd statement from someone who just took the leadership position at the DNS Abuse Institute, but it's meant to underscore the scope of the work ahead of us. There will always be bad actors exploiting the DNS for their own criminal purposes, but working together, we can mitigate their impact.
Domain names, domain name systems (DNS), and digital certificates are fundamental components of the most important applications that enable your company to conduct business - including your website, email, voice-over IP, and more. However, these vital applications are being attacked with an increasingly high level of sophistication and severity.