4/26/17 Breaking News: Brand new IoT Botnet Successfully DDoSes Russian Bank

Publish on: 28 April 2017
Category: SNAPI Guard's MSSP partner program,

Media Outreach

The news services just recently reported on an attack by a previously unheard latest botnet controlled by Iran-based hackers: IoT Botnet Successfully DDoSes Russian Bank.

On April 23rd, this new botnet successfully launched its first DDoS attack, which was directed at a Russian bank. That is quite interesting, considering the command-and-control server is hosted on Iranian internet domains.

This is not an isolated case but a real persistent and pernicious trend. Cybercriminals increasingly target Internet-connected endpoints such as surveillance cameras, grab control of these devices, and use them to launch DDoS attacks.

Unfortunately, in the rush to rapidly rollout IoT products, security has all too often manufacturers have relegated security to the backseat.

An evolving cyber security sector is addressing the issue – but at great cost.

Companies around the world spent about $81.6 billion in cyber security last year. That was a 7.9 per cent increase from the previous year, and Gartner (http://gtnr.it/2p0zT0L) estimates that figure will only grow larger in 2017 and beyond.

The growing need for security is a boon to Managed Service Providers (MSPs) that are pushing deeper into the cyber security space and are leveraging the “closeness to customers” that their businesses enjoy. To bolster their security capabilities, a growing number of MSPs are in turn, partnering with Managed Security Service Providers (MSSPs).

One Montreal-based company offering MSSP services to MSPs across North America is SNAPI Guard. SNAPI Guard offers fully managed Secure Internet Link, Always-On Protection, Hybrid and DDoS scrubbing solutions to MSPs. It’s a concept designed to help compensate for the lack of qualified staff and expertise and budget constraints.

Michael Tememe, President of SNAPI Guard, is available for interviews and would be more than glad to offer some contributed content on the challenges DDoS attacks pose to enterprises of all sizes, the real challenges of mitigating those tasks, and the place of MSPs in the solutions mix. Contact us at info@snapiguard.com.