Cyberhackers get bigger playground for attacks, says expert

Companies must improve their cybersecurity measures as the growing popularity of 5G, cloud technology and metaverse has provided cyberhackers a larger attack surface, according to Palo Alto Networks.

In a report, the multinational cybersecurity company noted that 5G connection in the Asia-Pacific region was projected to reach 430 million by 2025, more than double the 200 million registered in 2021.

“While cloud provides greater agility, scalability and performance, it also exposes the 5G core to cloud security vulnerabilities,” it explained.

Palo Alto said cloud-based supply chains were also dealing with cyberattacks, which could disrupt operations of companies.

Its study showed that 37 percent of organizations anticipate more supply chain attacks this year.

Meanwhile, the cybersecurity expert said that metaverse—a digital space where users can create their avatars and interact with each other—was only expected to get bigger this year, but this also meant opening up a “new playground for cybercriminals.”

“The immersive nature of the metaverse will unlock new opportunities for businesses and consumers alike, as it allows buyers and sellers to connect in a new way,” it explained.

“The fluidity of today’s cyberattacks will require business leaders to reimagine their cybersecurity approach constantly,” said Steven Scheurmann, regional vice president for Asean at Palo Alto.

“Leaders must consider innovative solutions, technologies and approaches that outperform traditional mechanisms. Organizations have much to consider in 2023, but remaining vigilant and aware will empower them to defend against the evolving threats,” he added.

Microsoft Philippines previously warned against organized cyberhackers who create a supply chain to steal and sell corporate data.

Abbas Kudrati, Microsoft chief cybersecurity advisor for Asia-Pacific, said “cybercrime has also become a new business form,” referring to the cybercrime-as-a-service (CaaS) trend.

Under CaaS, cyberhackers can “easily” buy a ransomware kit on the dark web “with a couple of hundreds of dollars.”

Ransomware is a cyberattack that holds an entity’s data or system hostage until a ransom has been paid.