Fortune (July 23)
The response of CrowdStrike has been “underwhelming,” symbolized by CEO George Kurtz’s failure to apologize immediately. With a bug that “hit less than 1% of Windows devices,” CrowdStrike “unleashed global chaos” last Friday. The fallout “grounded more than 6% of the world’s commercial flights. It also halted surgeries, broadcasts, money transfers, 911 call centers, train systems, stores, hotel reservations, mobile apps, and some government services. As of yesterday, many were still scrambling to recover.” CrowdStrike’s comeuppance may come as it enters “a risky period,” with its stock hammered “by almost a third” and angry customers reexamining their ties to the cybersecurity company.
Tags: Apologize, Apps, Broadcasts, Bug, CEO, Comeuppance, CrowdStrike, Customers, Cybersecurity, Failure, Flights, Global chaos, Hammered, Hotels, Kurtz, Money transfers, Recover, Response, Stock, Stores, Surgeries, Trains, Underwhelming, Windows
CNN (July 19)
“Computers and tech systems around the world went down Friday.” The ensuing “chaos” was brought about by “a single cybersecurity company.” While “software updates are a critical function in society to keep computers protected from hackers,” it is absolutely “crucial” to get the process “right” and “safeguard” it from potential tampering. On Friday, our “trust in that process was punctured.”
Tags: Chaos, Computers, Critical, Cybersecurity, Hackers, Protected, Safeguard, Society, Software updates, Tampering, Tech systems
Institutional Investor (January 4)
Researchers have uncovered “striking evidence of pre-disclosure spikes in options trading.” They “investigated informed trading activity in equity options prior to firms’ cybersecurity breach disclosures. We found pervasive directional options activity, consistent with strategies that yield abnormal returns to investors with private information.” There is a clear “cost of disclosure, and delayed reporting of breaches creates informed trading opportunities.”
Tags: Breach, Cybersecurity, Equity, Evidence, Options, Options trading, Pre-disclosure, Researchers, Spikes
CNN (October 31)
U.S. “lawmakers should be conducting a serious audit of our nation’s intelligence and cybersecurity capacities and strengthening areas of weakness to ensure our country is well-equipped to withstand future efforts from state actors, like Russia, to disrupt our democratic processes…. We’ve seen these efforts underway in Europe for years, and should learn from and even improve upon what they are already doing.”
Tags: Audit, Cybersecurity, Democratic processes, Disrupt, Europe, Intelligence, Lawmakers, Russia, U.S., Weakness
LA Times (September 22)
Chinese President Xi Jinping is stopping on the West Coast to meet with business leaders before meeting with President Obama in Washington. Many expect Xi to enlist the support of the business leaders he meets in derailing the likely imposition of “economic sanctions on China as punishment for cyber attacks, including the theft of millions of sensitive personnel records from U.S. government computers.” The 30 U.S. business leaders meeting with Xi in Seattle should be careful not to “undermine their long-term interests by giving Xi the wrong message on cybersecurity…. It would be shortsighted and foolish to try to dampen the federal government’s response to the relentless cyber attacks.”
Tags: Business leaders, China, Cyber attacks, Cybersecurity, Economic sanctions, Obama, Personnel records, Shortsighted, Washington, Xi
LA Times (April 5)
“Cybersecurity is a top national priority because of the incessant attacks on computer networks and stored data by hackers around the world, many under the auspices of foreign governments. According to a recent estimate, the toll from cybercrimes in 2013 was more than $100 billion in the U.S. and roughly half a trillion dollars globally.”
Tags: Attacks, Cybersecurity, Data, Foreign governments, Hackers, Networks, Priority, U.S.
Washington Post (December 11)
“To get a taste for the havoc possible in today’s digital world, consider the recent cyberattack on Sony Pictures Entertainment.” The massive 100 terabytes of stolen data has revealed “embarrassing details about executive salaries and secret movie negotiations—but the hack is also a worrisome moment in cybersecurity…. It is now a fact that many of the world’s most powerful nations are building cyberforces, either directly or with mercenary proxies. This is creating a cyberspace with plenty of risks.”
Tags: Cyberattack, Cyberforces, Cybersecurity, Digital, Embarrassing, Executives, Havoc, Mercenaries, Movies, Negotiations, Risks, Salaries, Sony, Stolen data
