Distributed denial-of-service (DDoS) attack is one of the most destructive cyberattacks that has gained traction in recent years. The global threat index claims that “cybercrime could cost the world $10.5tn (£9.3tn) by 2025”, making it one of the most heinous crimes in the corporate world.
Recently, many DDoS attacks have been initiated at a massive scale. This includes a Layer 7 DDoS Attack castaway by Google in August, a Cloudflare DDoS attack created by unknown hacker groups, and the recent pledge taken by Pro-Russia hackers to launch the biggest DDoS attack. These attacks indicate that DDoS has become the go-to option for hackers who want to undertake large-scale operations.
The technology industry is experiencing a disruption, with major layoffs and leadership changes affecting internet security. IS Decisions, a global software business focusing on safety, has published a study analyzing Google data to determine which cybersecurity issues are causing the most worry worldwide. The topper is, no surprise: DDoS.
The rise of cybercrime, DDoS plays catalyst
Cyber criminals are increasing at a rapid rate. Every business, regardless of size, or industry, is prone to hackers. An average cyberattack can target small to medium businesses (SMBs), and can cost over $108,000, in damages if the company has 1,000 employees or more.
In Q3, these attacks have increased to a huge scale, and we can call it the renaissance of hackers since even the most secured companies and platforms are falling into sophisticated phishing campaigns. Once a cyberattack takes place, it is estimated that “60% of small enterprises close down within six months,” reads the report.
Since work-from-home (WFH) and remote working has become the “new normal” for companies, the intensity and frequency of these attacks have also increased significantly. IS Decisions has shared some interesting facts about the types of attacks companies face today and has listed them based on their global volume and severity.
Top 10 most searched for cyber threats globally
- DDoS attack: 94,750
- Phishing attack: 47,120
- Cross site scripting: 34,770
- Brute force attack: 30,990
- Ransomware attack: 29,090
- DOS attack: 28,640
- Social engineering attack: 21,850
- IP spoofing: 13,810
- Zero day exploit: 12,430
- Advanced persistent threats: 9,350
DDos dominates searches in some of the world’s most populous countries, including Australia, Canada, the United States, the United Kingdom, and China, said the IS Decisions report. Moreover, in Q1 of 2022, companies saw a 60% increase in DDoS attacks than the entire year of 2021, according to GovTech.
Global business consultancy McKinsey estimates that, under the present momentum, cyberattacks can cost the world a whopping $10.5 trillion (£9.3 trillion) by 2025.
“Attack methods are always evolving. There is no single, standalone layer of protection that guarantees 100% cyber threat prevention across all of an organization’s IT assets. But IT leaders can mitigate threats with multiple layers of protection that focus on access, the common activity across nearly all attack patterns. The logon provides one of the clearest indicators of compromise and is the best place to automatically take action before damage is done”, said IS Decisions’s CEO, François Amigorena in a report.
