The Hacking Dilemma – Big Tech
In 2022, Big Tech has something new to worry about, and no, it’s not inflation or lack of demand; it’s hacking. Specifically, flaws with security that have failed the likes of Uber, Nvidia, Okta, and more. So exactly why are some of the most advanced technology companies failing against groups of hackers behind a computer? Well, it actually all starts with the employees, not the software.
In Uber’s case, an employee within the company was spammed with several phishing messages, and eventually, one of these was accepted which compromised the employee’s login credentials. From there, the hacker had access to their Slack messaging board, where they had sent the message “Hi … I announce I am a hacker and Uber has suffered a data breach.” Although no data has been purportedly sold or taken, the act was simply a means to embarrass the $55 billion dollar company. In more severe cases, such as Nvidia’s, passwords, schematics, drivers, and firmware were held for ransom until the hacker’s demands were met.
Now, what are these companies doing forward to limit the amount of contact these cyberattacks have on their employees? Well, Google and other larger firms have incorporated a Zero-Trust architecture, which is a relatively new security system that revolves around the simple philosophy: nothing can be trusted. With user authentication, device authentication, and verification steps along all paths to data, companies now believe they can not only limit the frequency of these breaches of data but limit the impact if the event occurs again.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.