Check Point Software’s Mid-Year Security Report Reveals 42% Global Increase in Cyber Attacks with Ransomware the Number One Threat

Rhea-AI Summary

Check Point Research released its ‘Cyber Attack Trends: 2022 Mid-Year Report’, revealing the growing threat of cyberattacks as a state-level weapon, alongside the rise of ransomware as the primary threat facing organizations. Key predictions for H2 2022 include a fragmented ransomware ecosystem, diverse email infection methods, and evolving hacktivism aligned with nation-state agendas. The report highlights significant attacks on decentralized blockchain networks and the anticipated initial cyber incidents in the Metaverse, emphasizing the urgent need for robust cybersecurity measures.

Positive

• Ransomware is identified as the number one threat, indicating heightened demand for cybersecurity solutions.
• Emergence of small to medium ransomware groups may result in more diverse and unpredictable threats, stimulating innovation in security measures.
• The report showcases extensive research and data collection, enhancing Check Point's credibility and authority in cybersecurity.

Negative

• Increased complexity and fragmentation in the ransomware ecosystem may make it harder for organizations to defend against attacks.
• The anticipation of further cyberattacks linked to ongoing geopolitical tensions, particularly the Russia-Ukraine war, may create an unstable security environment.

Key predictions for the second half of the year focus on attacks in the Metaverse, the elevation of cyberattacks as a state-level weapon and hacktivism flourishing

SAN CARLOS, Calif., Aug. 03, 2022 (GLOBE NEWSWIRE) -- Check Point Research (CPR), the Threat Intelligence arm of Check Point® Software Technologies Ltd. (NASDAQ: CHKP), a leading provider of cyber security solutions globally, has released its ‘Cyber Attack Trends: 2022 Mid-Year Report’ highlighting how cyberattacks have become firmly entrenched as a state-level weapon, including the new ransomware method of ‘Country Extortion’ and state-affiliated hacktivism, and the expansion of ransomware as the number one threat. 

Besides insight into the evolution of cyberattacks as a state-level weapon complementing actual military conflict, and the elevation of ransomware utilized in nation-state level attacks for financial and social gain, the report also delves into the growth of cloud supply chain attacks through new sources of modules in the open-source community. 

Up-to-date statistics on industry and regional cyberattacks as well as advice and predictions for the remainder of 2022 including an analysis of Incident Response exploring the full lifecycle of a cyberattack, presents an integrated view of how cyberattacks have led to major disruption, causing real harm to civic and cyber life in 2022. 

“The war in Ukraine has dominated the headlines in the first half of 2022 and we can only hope that it will be brought to a peaceful conclusion soon,” said Maya Horowitz, VP Research at Check Point Software. “Its impact on the cyber space has been dramatic in both scope and scale, and we have seen huge increases in cyberattacks against organizations in all sectors and all countries this year. Unfortunately, this will only get worse especially with ransomware now being the number one threat to organizations. However, with the right expertise, strategy and cybersecurity solutions in place, companies are able to prevent attacks from happening.”   

Top predictions for H2 highlighted in the report include: 

• Ransomware will become a much more fragmented ecosystem – while ransomware groups have become more structured and operate like regular businesses, with set targets to hit, there will be a lesson learned from the Conti ransomware group, whose size and power garnered too much attention, which led to its downfall. Going forward, we think there will be many small-medium groups instead of a few large ones, to hide in plain sight more effectively.
• More diverse email infection chains – due to the implementation of internet macros being blocked by default in Microsoft office, the more sophisticated malware families will accelerate the development of new infection chains, with different file types that are password protected to prevent detection as sophisticated social engineering attacks increase. 
• Hacktivism will continue to evolve – hacktivist groups will continue to align their attacks with the agenda of their chosen nation state, particularly as the Russia-Ukraine war is still ongoing. 
• Continued attacks on decentralized blockchain networks with expected first attacks in Metaverse – with major incidents relating to blockchain platforms, such as a vulnerability on Rarible market place  or ApeCoin Airdrop vulnerability , we expect to see continued efforts by hackers to breach and hijack crypto assets. In addition we believe that we will see initial attacks in the Metaverse that will exploit smart contract vulnerabilities. 

The ‘Cyber Attack Trends: 2022 Mid-Year Report’ gives a detailed overview of the cyber-threat landscape. These findings are based on data drawn from Check Point Software’s ThreatCloud Intelligence between January and June 2022, highlighting the key tactics cyber-criminals are using to attack businesses. A full copy of the report is available from here.

Follow Check Point Research via:
Blog: https://research.checkpoint.com/ 
Twitter: https://twitter.com/_cpresearch_ 

About Check Point Research 
Check Point Research provides leading cyber threat intelligence to Check Point Software customers and the greater intelligence community. The research team collects and analyzes global cyber-attack data stored on ThreatCloud to keep hackers at bay, while ensuring all Check Point products are updated with the latest protections. The research team consists of over 100 analysts and researchers cooperating with other security vendors, law enforcement and various CERTs. 

About Check Point Software Technologies Ltd.  
Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading provider of cyber security solutions to corporate enterprises and governments globally.  Check Point Infinity´s portfolio of solutions protects enterprises and public organisations from 5^th generation cyber-attacks with an industry leading catch rate of malware, ransomware and other threats. Infinity comprises three core pillars delivering uncompromised security and generation V threat prevention across enterprise environments: Check Point Harmony, for remote users; Check Point CloudGuard, to automatically secure clouds; and Check Point Quantum, to protect network perimeters and datacenters, all controlled by the industry’s most comprehensive, intuitive unified security management. Check Point protects over 100,000 organizations of all sizes.

MEDIA CONTACT:	INVESTOR CONTACT:
Audrey Pereira-Loong	Kip E. Meintzer
Check Point Software Technologies	Check Point Software Technologies
press@us.checkpoint.com	ir@us.checkpoint.com

FAQ

What are the key findings of Check Point's 2022 Mid-Year Report on cyberattacks?

The report highlights the rise of ransomware as the primary threat and discusses how cyberattacks have become a state-level weapon.

What predictions does Check Point have for the cyber threat landscape in H2 2022?

Key predictions include the fragmentation of ransomware groups, diverse email infection chains, and evolving hacktivism aligned with geopolitical agendas.

How does the report describe the impact of the Russia-Ukraine war on cyberattacks?

The report indicates a dramatic increase in cyberattacks globally, correlating to the ongoing conflict.

What vulnerabilities are expected in the Metaverse according to Check Point's report?

The report predicts initial cyberattacks in the Metaverse, particularly exploiting smart contract vulnerabilities.

How can organizations protect themselves from the rising ransomware threats mentioned in the report?

The report emphasizes the importance of implementing robust cybersecurity strategies and solutions to prevent ransomware attacks.