Identity Management and Information Security News for the Week of July 26; ZEST, MonoSwap, BlackFog, and More
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The editors at Solutions Review have curated this list of the most noteworthy identity management and information security news for the week of July 26. This curated list features identity management and information security vendors such as ZEST, MonoSwap, BlackFog,?and more.
Keeping tabs on all the most relevant identity management and information security news can be a time-consuming task. As a result, our editorial team aims to provide a summary of the top headlines from the last month, in this space. Solutions Review editors will curate vendor product news, mergers and acquisitions, venture capital funding, talent acquisition, and other noteworthy identity management and information security news items.
Identity Management and Information Security News for the Week of July 26
ZEST Security Exits Stealth with $5M Seed Funding in Tow
This week, ZEST Security exited stealth with its AI-powered cloud risk resolution platform. The platform correlates and pinpoints the root cause of cloud risks to craft resolution paths that eliminate cloud vulnerabilities and misconfigurations that attackers can exploit. The “breakthrough technology” attracted a seed round investment of $5 million from Hanaco Ventures, Silvertech Ventures and angel investors. “Combining the power of Generative AI with the cost savings and selection of open-source innovations, ZEST seized a unique opportunity to revolutionize how organizations approach security and risk,” said Charlie Federman, partner at Silvertech Ventures. “The founders’ deep experience in cloud, product and application security uniquely positions them to help the security industry move beyond visibility to effectively resolving cloud risks.”
Cybernews Report: “10 Million Exposed by Z-Library Copycat”
On June 27th, 2024, the Cybernews research team discovered an exposed database containing almost ten million users’ data. The data belonged to a threat actor operating a malicious clone of Z-Library, a well-known shadow online platform for pirating books and academic papers. Ten million people thought they were accessing an e-book piracy site called Z-Library. Instead, scammers collected their personal information, passwords, crypto addresses, and, possibly, payments. What’s worse, they leaked all their information, exposing users to other cybercriminals and authorities. Cybernews released the report of their findings earlier this week.
MonoSwap Hacked, Warns Users Not to Deposit Funds
This week, MonoSwap, a decentralized exchange and staking platform, announced that it suffered a malicious hack and warned users not to stake or add additional funds at the moment. In the announcement, MonoSwap also warned users to withdraw their funds from the platform immediately to avoid losses and not to interact with a malicious link, which the protocol identified in a social media post. According to the platform, on July 23, one of its developers accidentally installed a malicious phishing application and was lured into a call with scammers pretending to be venture capitalists. At some point during the call, scammers installed malicious software onto the developer’s computer, which reportedly had access to all the platform’s wallets and contracts. This allowed the hackers to withdraw most of the staked liquidity on the platform.
DirectDefense Announces Kevin Brooks as Vice President of Finance
This week, DirectDefense has strengthened its leadership team with the appointment of Kevin Brooks as the new Vice President of Finance. Kevin joins DirectDefense from Bishop Fox, where he served as VP of Finance. With a proven track record in managing finance functions and driving substantial growth, Kevin brings invaluable expertise to the team. At Bishop Fox, Kevin built a global finance team and played a crucial role in scaling the company’s operations across five countries, achieving more than three times revenue growth. His extensive experience in accounting, tax, treasury, and fundraising will be instrumental in steering DirectDefense’s financial strategy and growth. DirectDefense also invested in several key industry partnerships, including integrating Abnormal Security’s AI-powered email protection into its managed security services program. This collaboration leverages Abnormal Security’s advanced AI algorithms to detect and mitigate sophisticated email threats, ensuring comprehensive protection for enterprises. In June the company announced a collaboration with Dragos. By combining DirectDefense’s experienced managed security services provider (MSSP) team with Dragos’s robust OT cybersecurity solutions, organizations operating in the industrial control systems (ICS) domain can now achieve “unparalleled” threat intelligence, broad visibility, and a significant reduction in missed or ignored alerts.
BlackFog Strengthens Leadership Team with Strategic Appointments
BlackFog, a leader in ransomware protection, today announced it has made new appointments to strengthen its leadership team as it witnesses significant growth. John Sarantakes has joined as Chief Revenue Officer, and Mark Griffith has been appointed as Vice President of Strategic Sales. With over 28 years in technology sales, John Sarantakes will play a pivotal role as CRO in driving global sales through direct sales and the development of a strong channel. He will also target sales growth across State, Federal, Local Government and Education sectors. Griffith, who has more than 30 years of experience in strategic leadership and innovation, will lead BlackFog efforts to develop partnerships with MSPs and MSSPs, to secure customers in State, Local and Government agencies, and continue to work alongside customers on a tactical and operational standpoint. At the same time, CMO and founding member Brenda Robb has been promoted to President of BlackFog. As executive director of the company, Brenda led the expansion of the company into Northern Ireland, where BlackFog has now established R&D headquarters. As President, Brenda’s strong leadership skills and counsel will be leveraged with BlackFog’s expansion throughout North America. “As CMO, Brenda has spearheaded our marketing and communications strategy as BlackFog has launched in new territories and markets, while building a strong brand presence for our pioneering ADX technology.” says Dr. Darren Williams, CEO and Founder, BlackFog. “Brenda is instrumental to BlackFog’s success, and I am thrilled she is taking on the role of President in addition to leading our marketing operations.”
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No Excuse for AT&T Breach
“It is deeply concerning that an organization of AT&T’s stature and resources failed to detect such a massive breach for an extended period. The fact that the breach continued into early 2023 and affected not only AT&T’s direct customers but also those from other carriers using AT&T’s network, underscores the far-reaching consequences of such incidents.
The inclusion of cell site identification numbers in the stolen data is particularly alarming, as it could potentially allow for the triangulation of users’ locations. This adds a physical dimension to the already extensive privacy violation and could expose individuals to highly targeted and convincing social engineering attacks, not to mention compromising the physical security of individuals, such as those trying to escape abusive relationships. The stolen metadata, while perhaps not immediately recognized as sensitive, can paint a detailed picture of an individual’s daily life, habits, and associations, making it a valuable asset for those with malicious intent.
The long-term impact of this breach cannot be overstated. The exposed data could be exploited for sophisticated phishing attempts, identity theft, and other nefarious activities for years to come. It is a stark reminder that the repercussions of a data breach extend far beyond the initial incident and can have lasting consequences for the affected individuals.
As the full extent of the breach continues to unfold, it serves as a wake-up call for both organizations and individuals. Organizations must priorities cybersecurity and implement stringent measures to detect and prevent such incidents. Consumers, on the other hand, must become increasingly vigilant about their digital footprint and take steps to protect their personal information.”
-Javvad Malik, Lead Security Awareness Advocate at KnowBe4
Founder & CEO, Group 8 Security Solutions Inc. DBA Machine Learning Intelligence
2 个月Great insights.