Twitter confirmed 130 celebrity Twitter accounts were targeted in the cyberattack on Wednesday 15th July, with a ‘small subset’ of those compromised. The hacked Twitter accounts included high profile individuals such as Barack Obama, Elon Musk, Kanye West, Bill Gates, Jeff Bezos, Warren Buffett, Kim Kardashian, and Joe Biden. Their accounts were used to send a tweet to scam Bitcoin out of their millions of followers.
|Scam Social Engineering Tweet sent from Bill Gates’ Twitter Account|
|Security researchers at Hudson Rock spotted Twitter Hack advertisement|
This incident illustrates the loophole with identity and access management such that if a user account is compromised, data is left unprotected. This loophole can be closed by taking a data-centric approach to security, where information is automatically protected, with authenticated encryption built right into the data. This means that even unencrypted files, when changed or moved, will immediately be encrypted so that, if stolen, they will appear to be garbage to the thief.
A compromised user account still has access to data, but it remains encrypted all the time, even when in use. When copied from its ‘safe’, access-controlled location – even if that’s outside the organisation – the data remains encrypted and therefore useless. No ransom, no embarrassing disclosures, no legal action.
Liviu Arsene, Global Cybersecurity Researcher at Bitdefender said with attackers successfully compromising high-profile Twitter accounts that potentially also had two-factor authentication can only point to a coordinated cyberattack at Twitter’s employees and systems. It’s likely this could be a result of attackers exploiting the work-from-home context, in which employees are far more likely to fall prey to scams and spearphishing emails that end up compromising devices and ultimately company systems.
This high-profile Twitter breach could be the result of a spray-and-pray spear-phishing campaign that landed some opportunistic cybercriminals the could potentially be the hack of the year for Twitter. They could have done potentially far more damage. Instead, by delivering a simple Bitcoin scam, we could be looking at attackers that wanted to quickly monetize their access, instead of a highly coordinated and sophisticated operation performed by an APT group.
If this is the case, it’s likely that more companies could potentially be breached as a result of cybercriminals phishing employees. With 50% of organizations not having a plan for supporting and quickly migrating employees and infrastructure to full remote work, we’re probably going to see more data breaches that either exploit employee negligence or infrastructure misconfigurations left behind during the work from home transition.
While large organizations may have strong perimeter security defences, security professionals mostly worry that a potential breach could occur because of attackers exploiting the weakest link in the cybersecurity chain: the human component.
Tony Pepper, CEO of Egress said Twitter has suffered a co-ordinated attack targeting its employees “with access to internal systems and tools” is deeply concerning. However, screenshots obtained from two sources who took over accounts which suggest that this breach was caused by an intentionally malicious insider adds an additional layer of concern and complexity to this saga.
In our 2020 Insider Data Breach, we found that 75% of IT leaders surveyed believe employees have put data at risk intentionally in the past year and this latest breach seems to bear out those beliefs.
So, what can security professionals do to prevent this risk and keep sensitive data out of the reach of malicious threat actors? Organisations have an opportunity to do more by understanding the ‘human layer’ of security, including breach personas and where different risks lie. Technology needs to do more by providing insight into how sensitive data in the organisation is being handled and identifying risks, including human-activated threats.
By spotting the characteristics of a potentially malicious insider and being aware of what they are susceptible to and motivated by, organisations can put the tactics, techniques, and technology in place to mitigate the risk.
*** This is a Security Bloggers Network syndicated blog from IT Security Expert Blog authored by SecurityExpert. Read the original post at: http://feedproxy.google.com/~r/securityexpert/~3/edEBeKlbZgk/twitter-hack-scam.html