OpenText Cybersecurity’s 2024 Threat Hunter Perspective Shows Collaboration Between Nation-States and Cybercrime Rings to Inflict More Damage

OpenText™ (NASDAQ: OTEX), (TSX: OTEX) today released the results of its 2024 Threat Hunter Perspective. The report found thatthe collaboration and coordination taking place between nation-states and cybercrime rings to target global supply chains and further geopolitical motiveshas become a signature trend in the threat landscape.

For CISOs, the question isn'twhether attacks will happen, but what form they'lltake and how enterprises can prepare. According toCybersecurity Ventures, the cost of cybercrime is projected to reach $9.5trillionin 2024and is expectedto increase to $10.5 trillionby 2025. To understand the current threat landscape, CISOs need to know not just the types of threats but also who is behind them, when they might occur, why they'rehappening, and how they'reexecuted. Connecting these dots helps threat hunters gain a clearer picture of the risks organizations face, enabling more effective preparation and response.

"Our threat intelligence and experienced threat hunting team have foundthat nation-states are not slowing down and, as notable events like the U.S. presidential election get closer, every organization in the global supply chain needs to be on high alert for advanced and multiple cyberattacks," said Muhi Majzoub, executive vice president and chief product officer, OpenText. "Based on the report's findings, enterprises need to be preparedfor large-scale attacks, making adversarial signals, threat intelligence and defensecapabilitiesmore important than ever."

Highlights from this year's report,which explores comprehensive findingsfrom OpenText threat intelligence and hunters on the front lines of cybersecurity, include:

• Organized crime rings are supporting attacks by nation-states-possibly throughdirect collaboration or coordination-by attacking the same targets at the same time.

• Russia has been seen to collaborate with malware-as-a-service gangs including Killnet, Lokibot, Ponyloaderand Amadey.

• China has entered intosimilar relationships with the Storm0558, RedRelay, and Volt Typhooncybercrime rings, typically to support its geopolitical agenda in the South China Sea.

• The top threats include Killnet(DDoS attacks), Lokibot(info-stealing malware) and Cobalt Strike (penetration testing tool used by APT groups).

• Attackers are keyed in on specific events, especially major holidays, military aid to Ukraine, turning the upcoming U.S. presidential election into a time of imminent peril.Nation-states also target specific days of the week for cyberattacks:

• Russiancyberattack activity typically follows a Monday through Friday schedule with spikes within 48 hoursof an adversarial announcement.

• Chinese attacks don'tfollow a set schedule, though any data exfiltration is typically slated for Friday afternoons or Saturdays, when it'smore likely to be missed, with the data broken into smaller chunks to further reduce suspicion.

• Evasion, misdirectionand masquerading are helpingadversaries get around defenses designed for direct attacks.Many attacks are taking advantage of weak security fundamentals, with victims increasing their vulnerability by nottakingbasic countermeasures.

• Nations with weaker cyberdefense infrastructure, like the Democratic Republic of Congo, Argentina, Iran, Nigeria, Sudan, Venezuelaand Zimbabwe, have all been compromised, broadening the range of potential sources for a large-scale attack.

• Global supply chains offer another indirect means of inflicting damage where the attacker might target the operations of a port or transportation network to disrupt a military aid shipmentto havean indirect but significant impact on the primary target.

Additional Resources:

• To read the full reportand methodology, click here.

• For further insights into the report, read ourblog post.

About OpenText Cybersecurity
OpenText Cybersecurity provides comprehensive security solutions for companies and partners of all sizes. From prevention, detection and response to recovery, investigation and compliance, our unified/end-to-end platform helps customers build cyber resilience via a holistic security portfolio. Powered by actionable insights from our real-time and contextual threat intelligence, OpenText Cybersecurity customers benefitfrom high efficacy products, a compliantexperience and simplified security to help manage business risk.

About OpenText 

OpenText™ is the leading Information Management software and services company in the world. We help organizations solve complex global problems with a comprehensive suite of Business Clouds, Business AI, and Business Technology. For more information about OpenText (NASDAQ/TSX: OTEX), please visit us at www.opentext.com.

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