As a business owner or security expert, enforcing the most robust security measures is crucial for ensuring data protection and business continuity. However, if history serves us well, even the best and most tech-savvy cybersecurity solutions have their flaws. That includes cloud security, a cutting-edge cybersecurity solution that protects cloud-based data, applications, and infrastructure.
Over 94% of all businesses globally use cloud services to avoid creating rigid and fallible physical data centers. Not only do cloud-based services aid in optimizing operation costs, but they also provide a scalable, flexible, resilient, and eco-friendly way of managing data. However, simply having your data in the cloud doesn’t mean you’re 100% safe from cyber attacks. In fact, the following three scenarios explore some overlooked vulnerabilities inherent in cloud security systems.
Infamous Cloud Security Breaches and Lessons Learnt
The past five years have left an indelible mark on the cybersecurity scene. After all, 39% of businesses have experienced a data breach in their cloud environment over the last year. Since 75% of these companies have stored 40% of their sensitive data in the cloud and only 45% is encrypted, there’s a great need to adopt better cloud security measures.
Here are some impeccable case studies from which we can draw cloud security lessons to better fortify our cloud-based assets.
Capitol One 2019 Data Breach
Recorded as one of the most significant cloud-based data breaches in US history, Capitol One had more than 100 million US clients, and 6 million Canadian clients’ information leaked on GitHub. Initiated by a former Amazon Web Services (AWS) employee who infiltrated a misconfigured firewall on a Capitol One server, the breach constituted gaining sensitive customer data from the company’s S3 buckets.
Given that the breach went unnoticed for months, the attacker managed to exfiltrate a lot of data, eventually costing Capitol One approximately $190 million in customer lawsuits. Not forgetting the substantive reputational damage and imposed fines from regulatory authorities.
Lessons Learnt: This case study showcases the importance of proactive security measures, especially when using cloud infrastructure. Regardless of the level, every business must implement robust security systems. That includes creating applications, monitoring cloud infrastructure, and continuously improving existing cybersecurity solutions. Likewise, you must lay down a comprehensive incident response system to reduce the effects of the breach while expediting recovery efforts in real-time.
Raychat 2021 Data Breach
Back in February 2021, Raychat, a well-known online chat service, overcame a large-scale cyber attack occasioned by a cloud database configuration breach. Reports show that a MongoDB misconfiguration left over 267 million user data exposed from the company’s NoSQL Databases. As a result, hackers obtained that data, erased the company’s data using a targeted bot attack, and issued a $700 million ransom request.
Lessons learned: It goes without saying that company databases should be secured at all times. More specifically, NoSQL databases have become a prime target for cyber attackers. Use a set of cutting-edge tools and measures to keep your databases safe, and don’t forget to actually embed the data within it. Regularly test the security of your databases and their assorted applications using a range of cybersecurity penetration tests and employ the latest end-to-end compliance technologies for the best results.
MGM Resort 2022 Data Breach
Among the most notorious ransomware attacks recorded in 2023 involved MGM Resorts, a US-based hospitality mammoth. Using a simple call to the company’s help desk, hackers managed to access a super administrator account, which they used to access the company’s Okta and Microsoft Azure Cloud systems. The lack of strict user verification systems caused MGM a whopping 10-day system failure event, during which it was taken offline, and 10.6 million of its records were leaked.
Lessons learned: Hotels are known to have vast amounts of client information, including names, email addresses, and addresses. Combine this with a vibrant gambling scene, and you have yourself a hotbed of valuable data, attracting the most notorious cybercriminals. More specifically, online casinos are highly prone to cyberattacks as they handle tons of financial and personal data.
For instance, when players register, they must enter their name, physical address, mobile phone number, email, and financial data to log in to their accounts and play their favorite games. Luckily, most reputable online casinos in the US have employed additional security features, like two-factor verification and biometric authentication, to verify user login information.
Further, these platforms are known to employ the latest SSL encryption technologies, firewalls, anti-virus, and anti-spy software to guarantee user safety. Having backup storage in other cloud environments or external devices is another way of guaranteeing the utmost security.
Monitoring: The Most Valuable Cyber Security Lesson of All Time
When evaluating various cyber security case studies throughout history, one common theme emerges—lack of proper monitoring. While having a robust security culture is crucial, regular monitoring practices will ensure that even those attacks that make it past your cybersecurity solutions are quickly detected and mitigated, minimizing potential damage. Remember, every blind spot is a potential vulnerability that must be dealt with immediately.
