As we close the book on 2024, we welcome you to our Holiday Edition, where we unwrap the biggest stories that defined a whirlwind year in AI and cyber affairs—a celebration of relentless innovation, jaw-dropping rivalries, and high-stakes power plays that kept us captivated all year round.
Cisco faces fallout from a massive data leak exposing critical files, while China accuses the U.S. of cyber espionage amid rising tech tensions. AI governance sparks debate as Europe enforces strict rules, and ASIC sues HSBC for $23M scam failures. Global cyber affairs take center stage this week.
ASIC is suing HSBC Australia over $23M in scam losses, alleging systemic failures in fraud detection and delays in resolving complaints. Meanwhile, Singapore's proposed anti-scam law aims to freeze accounts of scam victims to prevent further losses, sparking debate on privacy and autonomy.
CISA, FBI, and ACSC warn of LockBit 3.0 ransomware exploiting the critical "Citrix Bleed" vulnerability (CVE-2023-4966) in Citrix appliances. Businesses are urged to patch immediately, as attackers can bypass MFA and gain unauthorized access, posing serious cyber risks.
In a crucial cybersecurity collaboration, the Cybersecurity and Infrastructure Security Agency (CISA), FBI, MS-ISAC, and ASD’s ACSC have issued a joint advisory about LockBit 3.0 ransomware exploiting the CVE-2023-4966 vulnerability, known as "Citrix Bleed." This vulnerability affects Citrix NetScaler ADC and Gateway appliances.
The advisory details TTPs and IOCs sourced from the FBI, ACSC, and Boeing. Boeing's experience with LockBit 3.0 exploiting CVE-2023-4966 for unauthorised access highlights the threat's seriousness. LockBit 3.0, known for its diverse attack methods, targets multiple critical infrastructure sectors. "Citrix Bleed" allows attackers to bypass passwords and MFA, facilitating unauthorised access and data compromise.
CISA and partnering organisations stress the urgency of applying the recommended mitigations, including isolating affected appliances and updating software via the Citrix Knowledge Center. The vulnerability, which enables hijacking legitimate user sessions, was identified in early 2023 and publicly disclosed by Citrix in October 2023. Due to its severity, CISA added it to the KEVs Catalog, emphasising its critical impact on various software versions.
This advisory's release is a significant wake-up call for businesses globally. It underscores the escalating sophistication of cyber threats, particularly ransomware like LockBit 3.0, which now exploit critical vulnerabilities to gain extensive access to corporate networks. The ability to bypass MFA, a cornerstone of modern cybersecurity defences, represents a new level of threat that requires immediate and proactive response. Businesses, especially those in critical infrastructure sectors, must prioritise patching vulnerabilities like CVE-2023-4966 and adopt a layered security approach. This incident highlights the ongoing arms race in cybersecurity, where businesses must constantly evolve their defences in response to increasingly advanced cyber threats.
China’s "Salt Typhoon" hackers have breached U.S. telecoms, raising cyber tensions. Experts warn of the threat to international stability, emphasizing the need for collaborative strategies to prevent escalation amid ongoing economic competition.
Chinese hackers allegedly breached U.S. telecoms tied to Harris and Trump campaigns, highlighting election security gaps. AI-driven deepfakes and disinformation also surge on social media, raising risks to democracy as voters near Election Day.
CrowdStrike's disastrous July 19 software update crippled Jetstar and exposed vulnerabilities, causing a global IT outage. Competitors like SentinelOne exploited the chaos, shaking customer trust and eroding CrowdStrike's market value by 25%.
This week, the cybersecurity world is in turmoil following a massive data breach at National Public Data. The breach, involving 2.9 billion records, has exposed sensitive information spanning decades.
