News
Attacks Against Manufacturing Industry Increase 105% in First Half of 2024, New Research Finds
September 2024 by Ontinue
Ontinue revealed new findings from its Threat Intelligence Report 1H 2024. The findings, discovered by Ontinue’s Advanced Threat Operations (ATO) shed light on the rapidly evolving cyber threat landscape and highlights proactive defense strategies critical for modern enterprises. The ATO offers a deep dive into the trends shaping the first half of 2024 and provides insights into what organizations can expect in the months ahead.
Key Findings:
• Increased Attacks on Manufacturing & Industrial Sectors: The Manufacturing & Industrial sectors have seen a dramatic rise in attacks, accounting for 41% of cyber incidents in the first half of 2024, an increase of 105% which sat at 20% in 2023. This contrasts with a notable decline in attacks on the Technology/IT services sector, which has benefitted from improved cybersecurity maturity and defenses.
• Chinese State-Sponsored Cyber Operations: The report highlights a significant uptick in cyber operations originating from China, driven by the nation’s ongoing military and cyber reorganization. These state-sponsored campaigns increasingly focus on information control and leverage zero-day exploits, further complicating attribution and escalating the global threat landscape.
• Lag in Patch Adoption Remains Critical: In Q1 2024 alone, over 8,967 Common Vulnerabilities and Exposures (CVE) records were published, with another 13,400 pending. However, many organizations are lagging in their patch adoption, leaving them vulnerable to attacks that exploit known vulnerabilities. Alarmingly, 50% of the top 10 trending vulnerabilities this year were from 2023. This points to the ongoing challenge organizations face in keeping pace with emerging threats.
• Ransomware Still a Menace: Lockbit continues its dominance as the most active ransomware group, evolving its tactics and holding its position from last year. New players such as Hunters International have entered the scene, further intensifying the ransomware landscape. Clop, despite its temporary decline, is expected to stage a comeback later in the year.
• Emerging Threats: The report identifies several emerging threats for organizations to monitor closely, including the rise of LOLSites, which exploit Microsoft-owned domains to bypass security controls, and compromised SharePoint sites being used for phishing. Additionally, Infostealers such as Raccoon Stealer and the PlugX RAT continue to pose significant risks, especially for government agencies and critical infrastructure.
Building Stronger Cybersecurity Maturity
The ATO team’s findings underscore the need for organizations to take a proactive approach to security. By focusing on timely patch management, implementing multi-factor authentication securely, and fostering a culture of security awareness, businesses can mitigate the risks posed by these sophisticated threats. Ontinue encourages organizations to adopt a multi-layered defense strategy, combining network segmentation, regular backups, and well-tested incident response plans to minimize the impact of ransomware and other cyber threats.
“Organizations can no longer afford to be reactive when it comes to cybersecurity,” said Craig Jones, VP of Security Operations at Ontinue. “As cyber attackers evolve and become more sophisticated, organizations must arm themselves with the latest intelligence and defenses to protect their assets. This report highlights the critical need for businesses to stay ahead of emerging threats by leveraging real-time intelligence and enhancing their cybersecurity maturity. With the right defenses in place, we can build a more resilient future.”
