Why Do Cyber Attacks Occur

Cyber attack definition

Cyber-attack is an extensive term that has far-reaching meaning and implications. In layman's language, it’s the offensive process, adopted by a hacker/threat actor, to harm the digital assets of an individual or an organization. The impacting assets could be computers, laptops, networks, servers, information systems, security infrastructures, and many more.

The core aim of a cyber-attack is to gain admin-like access to the targeted asset or corrupt it so that the stored information could be accessed or related functions can malfunction.

Why Do Cyber Attacks Occur?

There are numerous motivations behind the execution of cyber attacks, ranging from monetary incentives and corporate espionage to geopolitical ambitions and personal vendettas.

• Monetary Gains: A major driving factor behind cyberattacks is the potential for financial profit. These attacks are often inexpensive to execute, yet they can yield substantial financial rewards. For instance, a report from Ponemon Institute and IBM revealed that the average cost of a data breach is an eye-watering $3.86 million.
• Industrial Espionage: Many cyber attacks are motivated by the need for competitive advantage. Cybercriminals employ techniques like phishing to compromise user accounts, penetrate corporate systems, and steal critical business data. More advanced attacks, such as “whaling,” target high-ranking executives with carefully crafted strategies to steal valuable information or extort companies.
• State-Sponsored Cyber Attacks: Political agendas also drive numerous cyber attacks, particularly those carried out by hackers backed by governments. Prominent examples include Russia’s 2016 cyber assault on Ukraine’s power grid and the Iranian APT33 hacking group. Nation-state-backed attacks have fueled the rise of cyber warfare, such as the alleged attack by Chinese-affiliated hackers on the White House Military Office’s email system.
• Digital Activism: Some cyber attacks are executed to advance political movements, a practice known as hacktivism. Groups like Anonymous and WikiLeaks have targeted governments and large corporations to spotlight issues like internet censorship, freedom of speech, and government surveillance.
• Personal Vendettas: Certain attacks are driven by personal motivations, often carried out by disgruntled employees or former workers. These individuals may steal sensitive corporate data either to sell it for profit or to sabotage the organization they believe wronged them.
• Curiosity-Driven Attacks: Some individuals engage in cyber attacks simply for intellectual stimulation or the thrill of breaking into systems. While these “white-hat” hackers typically do not intend harm, their actions can still result in significant disruptions to business operations. In some cases, ethical hackers aim to identify security flaws and improve protection systems for organizations.
• Easy Targeting of Data: A critical factor fueling cyber attacks is the ease with which hackers can access sensitive data. Weaknesses such as expired or dormant passwords make it much simpler for attackers to infiltrate systems. A Varonis report on data risks found that 38% of users have passwords that never expire, 61% of organizations have over 500 users with non-expiring passwords, and half of business accounts remain inactive or outdated.

Who is responsible?

Cyber-attacks are generally planned plus executed by an ill-intended individual or group, commonly known as cybercriminal, hacker, or threat actor, or by a criminal group/organization. They can be outside or inside resources.

• Outside resources

When a third-party criminal organization, professional hackers, or state-sponsored actors cause a cyber-attack, it is considered an outsider threat.

The attackers don’t have any personal grievance against the target and don’t even know them well. It’s just that they spot a vulnerability in the target’s security system or infrastructure and make it work for their benefit.

• Insider resources

These are the trusted professionals who already have verified access to the digital assets of an organization. Sometimes, such professionals exploit these assets for personal gains.

Mostly, cyber-attacks by insider resources involve careless employees, a discarded employee having access to crucial information, or agitated business partners/client/contractor.

They misuse the trust laid upon them and exploit the resources. However, cyber-attacks, happening via insider resources, aren’t always pre-planned. At times, they could be accidentally also.

What are cybercriminals targeting?

Past observations have revealed that most of the attacks are driven by financial motives. However, we have also seen cybercriminals conducting an attack just to prove their excellence. So, there is no hard-and-fast rule to claim what would be the target of an attack. However, most of the attacks target things like:

• Financial data of an individual or an organization
• Customer or employee database
• Financial data of customers/employees/partners/stakeholders
• Login details of the device and other resources
• Critical documents that involve tenders, business proposals, contracts, and many more
• Legal details like partnership details, company stake distribution, and so on.

Types of Cyber Attacks

We can classify by the attacks in cyber world on the based of its process and resource impact. Their varieties, in such a scenario, will be numerous. Here is a quick overview of key cyber-attack types:

1. Man-in-the-middle attack
   

MitM method involves introducing the threat actor as a legitimate resource between two parties that could be a computer system and a server or a server and web application.

With the forced introduction in the middle of 2 parties, the attack becomes a part of information exchange and other processes and steals crucial information.

2. DoS and DDoS attack
   

Denial of service (DoS) and Distributed DoS (DDoS) involve stopping verified resources to access a particular system/website by sending overflowing access requests.

For instance, an attacker can send multiple access requests to a CRM software of an organization to keep it busy so that legitimate professionals fail to access it in the time of need. Mainly, it’s used to plan a more damaging attack in the future.

3. SQL injection
   

These attacks are made through the SQL-based ill-intended codes introduced to the vulnerable system/applications. Upon successful introduction, a SQL injection can collect the query results, give new commands to the systems, and perform prohibited actions on success.

4. Zero-day exploit
   

This term is used for cyber-attacks that remain unnoticed for many days, or sometimes, for months. Usually, zero-day exploits take place by taking advantage of any hardware/software weaknesses. The intensity of 0-day attacks is generally low in the beginning and lasts for longer.

5. DNS Tunneling
   

Cyber-attacks happening via exploiting the DNS tunneling, a well-known transactional protocol, are not very uncommon. Attackers can use them for their gains and can steal crucial information. As the involved protocol deals with data exchange processes of the application, organizations need to be very careful against it.

6. Phishing
   

A highly nuisance-creating cyber-attack type, phishing involves using corrupted emails to steal sensitive information. Threat actors will send tempting emails like’ you have won a prize’, ‘you got an offer, a loan is approved, and many others to lure the target cyber attack and will ask them to click on a particular link and share details like credit card details, bank info, CVV data, and many more. 

The emails are crafted with such perfection that it seems they have come up from trusted sources. Phishing accounts for nearly half of the total cyber-attacks happening in the world.

7. Malware
   

Malware cyber-attack involves introducing corrupted software into the targeted system to steal the information or malfunction it completely. The malware used for these attacks is of various types, e.g., Trojan, Remote Access Trojan, spyware, worms, and ransomware.

8. XSS attacks
   

XSS or cross-scripting attack is basically a security vulnerability targeting the web application at large. A successful XSS attack will allow an attacker to introduce client-side scripts to the targeted web application page. Often, the attack is used to bypass the access control policies imposed on a web application.

9. Social engineering
   

It is a type of cyber-attack based on the psychological manipulation of the target. Unlike other cyber-attacks, it needs the expertise to bend the human bind, use emotional biases, and track personal/sensitive information. This technique is used most often for intrusions and has a very high success rate.

10. Ransomware
    

A subcategory of malware attack, ransomware attack involves threatening the victim to leak or publish the crucial information on the public domain if the asked ransom amount is not paid. 

At the beginning of the attack, the hacker implants ransomware into the targeted victim’s system that decrypts the stored data and forwards it to the hacker. Some of the most common ways to introduce ransomware are phishing, adware, and USB drives.

11. Cryptojacking
    

One of the most recent and nuisance-creating cyber-attack, cryptojacking aims only at the cryptocurrency owners. Hackers gain the access to your resources and start the cryptomining process. The cost of this resource-intensive job will now be paid by victim’s resources/network while the gain will of intruders.

Consequences of Cyber Attacks on Organizations

If cyber attacks succeed, they can have devastating effects on businesses, leading to system downtimes, data loss, and financial setbacks. Some examples include:

• Service Interruptions: Cyber attackers might use harmful software or initiate denial-of-service (DoS) attacks to incapacitate systems or servers, resulting in considerable downtime and financial setbacks. According to the "Cost of a Data Breach" report, these disruptions can cause an average revenue loss of approximately USD 2.8 million.
• Unauthorized Data Access: SQL injection attacks enable hackers to alter, erase, or steal critical data from databases, putting both business operations and customer trust at risk.
• Fraudulent Schemes: Phishing attacks deceive individuals into revealing confidential information or making payments to attackers, leading to substantial financial harm.
• Extortion through Ransomware: Ransomware attacks lock systems until the victim agrees to pay a ransom. Industry reports indicate that the average ransom demand is approximately USD 812,360.

In addition to these direct damages, cyberattacks can incur additional costs related to identifying, responding to, and mitigating the effects of the breach. However, companies that implemented AI and automation for security saw the most significant reduction in the overall costs of a breach, saving an average of USD 2.22 million compared to organizations that did not adopt these technologies.

Cyberattacks can also cause widespread repercussions beyond the primary target. For example, in 2021, the DarkSide ransomware group targeted Colonial Pipeline, the largest oil pipeline system in the US. They gained access using a compromised password, which led to the shutdown of a pipeline responsible for 45% of the fuel supply to the US East Coast, resulting in fuel shortages.

The attackers demanded nearly USD 5 million in cryptocurrency as ransom, which Colonial Pipeline paid. However, with the assistance of the US government, the company was able to recover USD 2.3 million of the ransom.

Strategies for Cyberattack Prevention, Detection, and Mitigation

Organizations can reduce the likelihood of cyberattacks by implementing robust security protocols. Cybersecurity focuses on protecting critical infrastructure and confidential information from digital threats by integrating advanced technologies, skilled personnel, and well-defined processes.

How to prevent a cyber attack?

Even though a cyber-attack can be too detrimental and harmful, keeping resources safe from it is possible, provided you adopt the industry’s best protective measures.

Anti-virus software and firewall

Using anti-virus software and firewall is one of the easiest yet most powerful means to keep the unwanted nuisances at bay as the tool can filter every incoming traffic and activity happening on the device and identify the malicious contents.

As everything is automated, not much effort is invested with this tool.

Regular updates of all systems

With each system/OS, some advanced security features are offered to the end-users. Updated systems/OS tend to be less prone to a cyber-attack.

Internal Controls

Enforcing strict internal control strategies is an expert-recommended way to prevent or reduce cyber-attack incidents. Make sure all the resources have access control imposed so that only the trusted and verified resources use them.

Data backups

With regular data-back, you’re ready for the worst-case scenario and have less chance of losing crucial data even if there is a cyber-attack.

Firewalls

A firewall is a technologically-advanced tool monitoring the incoming and outgoing traffic and keeping harmful elements at bay. Its deployment ensures that the system network is protected and cyber-attack incidents are on the lower side.

Monitoring and detection

Every resource, activity, and third-parties should be under the radar all the time so that any sort of malicious activity is spotted in the infancy stage. There should be an extensive monitoring system in place.

Staff training

Employees that are well-aware of the importance of cybersecurity are a viable defense mechanism against cyber-attacks as they won’t entertain any ill-content, grant access to unauthorized professionals, and will not expose resources to phishing attacks. Organizations should conduct cyber-security training to train new employees and have multiple awareness programs.

Identifying Cyberattack Attempts

While it is impossible to completely eliminate the risk of cyberattacks, organizations can employ ongoing security monitoring and early detection methods to identify and respond to active threats. Some of these approaches include:

• Centralized Security Monitoring: Security Information and Event Management (SIEM) systems gather and consolidate alerts from various internal cybersecurity tools, such as Intrusion Detection Systems (IDS), Endpoint Detection and Response (EDR) solutions, and other protective technologies.
• Threat Intelligence Tools: Threat intelligence platforms enhance security alerts, providing security teams with a deeper understanding of the nature and scope of potential cybersecurity threats.
• Malware Detection Software: Antivirus programs regularly scan devices for harmful software, automatically detecting and removing any malware found.
• Proactive Threat Search: Threat hunting activities involve actively seeking out hidden cyber threats within a network, including Advanced Persistent Threats (APTs), that may be evading detection.

Responding Effectively to Cyberattacks

Organizations can take crucial steps to ensure an efficient and well-coordinated response to active cyberattacks and other security incidents. Here are some key strategies:

• Incident Management Strategies: Having a clear incident response plan in place helps organizations limit the impact of cyberattacks, restore compromised systems, and investigate the root causes to prevent similar incidents in the future. Incident response protocols are proven to significantly reduce the overall costs of a breach. For instance, the "Cost of a Data Breach" report indicates that businesses with formal incident response teams and plans experience, on average, 58% lower breach costs.
• Automated Security Coordination: Security Orchestration, Automation, and Response (SOAR) platforms empower security teams to streamline the coordination of various security tools. Through semi- or fully automated response playbooks, these solutions enable real-time management of cyber threats.
• Comprehensive Detection and Response: Extended Detection and Response (XDR) systems unify security operations across all layers, such as users, endpoints, emails, applications, networks, cloud environments, and data. XDR solutions automate a range of complex tasks related to cyberattack prevention, detection, investigation, and response, including proactive threat hunting.

Examples of Cyberattacks in Business

What constitutes a cyberattack in the context of daily business activities? The definition of a cyberattack can be quite broad, depending on the type of assault that attackers choose to initiate. Below are a couple of common scenarios:

1. Malware: A company neglects to implement adequate cybersecurity measures, allowing employees to freely visit any website. One employee unknowingly lands on a fraudulent website, which automatically installs malware on their computer. This malware creates an entry point for a subsequent ransomware attack.
2. Phishing: An employee receives a phishing email, a prevalent form of cyberattack, claiming they must update their bank account credentials. The email directs them to a counterfeit site, where the hacker gathers the sensitive information they input.

While these examples of cyberattacks are relatively straightforward—compared to more advanced attacks used by organized cybercriminal groups—they remain among the most common methods malicious actors use to target businesses and their staff.

How Wallarm can help with Cyber Attack?

Wallarm helps protect organizations from cyberattacks by offering a robust security framework tailored to defend APIs, web apps, and critical systems. Its advanced AI-powered threat detection system proactively identifies and neutralizes vulnerabilities, preventing attackers from exploiting weak points. Wallarm’s real-time monitoring and automated response mechanisms ensure immediate action against potential threats, minimizing disruptions. Through its adaptable platform, Wallarm helps organizations strengthen their digital defenses, minimize the chances of data leaks, and provide ongoing security against emerging cyber risks.