Cyber Security
New Phishing Scheme Targets Crypto Users Worldwide

Kaspersky has unearthed a phishing campaign targeting cryptocurrency users across the globe. The scheme showcases the ever-evolving tactics used by cybercriminals, reflecting cryptocurrency’s increasing appeal. During the spring of 2023 alone, Kaspersky’s solutions detected and thwarted over 85,000 scam emails, encompassing both hot and cold wallets. Kaspersky provides an in-depth report revealing the intricacies of these two distinct email attack techniques and enlightening the differences in hot and cold cryptocurrency storage methods.
With over 400,000,000 cryptocurrency wallet owners globally, as reported by Crypto.com, the spike in the popularity of hot wallets comes from their accessible nature. Online storage services such as crypto exchanges and dedicated apps have become prime targets for cybercriminals due to their constant internet connectivity.
Phishing attacks aimed at hot wallet users typically employ relatively simple tactics, often exploiting non-technical individuals. Malicious actors impersonate well-known crypto exchanges through fraudulent emails, urging users to validate transactions or reconfirm the security of their wallets. Unsuspecting victims who click on the links are redirected to fake web pages that prompt them to enter their seed phrase — an essential element for wallet recovery. By gaining access to the seed phrase, scammers can seize control of the victim’s wallet and transfer funds to their own accounts.
In contrast, cold wallets are entirely offline storage systems, like a dedicated device or even a private key jotted down on paper. Hardware wallets are a prevalent type of cold wallet. They have garnered favour among users storing substantial cryptocurrency holdings due to their enhanced security measures. However, Kaspersky researchers recently discovered a targeted phishing campaign specifically tailored to exploit cold wallet owners. This campaign is initiated with an email masquerading as a prominent cryptocurrency exchange, Ripple, enticing recipients with the promise of participating in an XRP token giveaway.
Instead of directing victims to a phishing page, scammers employ a more sophisticated technique by creating a deceptive blog post that mimics the Ripple website’s design. This blog offers users the chance to enter a giveaway of XRP tokens, the platform’s internal cryptocurrency, by following a specified link. After following the link to a fake Ripple page using a domain name that closely resembles the official Ripple domain (a Punycode phishing attack), victims are prompted to connect their hardware wallets, such as Trezor or Ledger, to the scam website. This interaction allows scammers to gain access to victims’ accounts and initiate fraudulent transactions.
As of spring 2023, Kaspersky’s antispam solutions successfully detected and blocked over 85,000 scam emails aimed at cryptocurrency users. This nefarious campaign reached its peak in March, with more than 34,000 intercepted malicious messages. Kaspersky continued safeguarding cryptocurrency users in April and May, thwarting roughly 19,902 and 30,816 scam emails in these months, respectively.
“We are witnessing an ongoing surge in the popularity of cryptocurrencies, and with it, the need for users to stay alert and implement strong security measures to protect their digital assets. It is crucial to verify the authenticity of the sender and exercise caution before clicking on any links or providing sensitive information,” comments Roman Dedenok, a security expert at Kaspersky.
Cyber Security
Databases Are the Black Boxes for Most Organisations

Nik Koutsoukos, the Vice President of SolarWinds, says databases represent the most difficult ecosystems to observe, tune, manage, and scale
Tell us about the SolarWinds database observability platform.
Nearly everything a modern business does from a digital perspective requires data. Thus, databases are among the enterprise’s most valuable IT assets. This makes it critical for organisations to ensure their databases are optimised for performance and cost.
That said, databases represent the most difficult ecosystems to observe, tune, manage, and scale. Not only are there different types of databases that serve different purposes, but they are also populated by different types of data, adding to their complexity. The implications of not having visibility into your databases can be anywhere from a costly annoyance to a significant issue that causes business service disruption. For example, most application performance issues, between 70% and 88%, are rooted in the database.
For this reason, databases have largely been seen as a black box for most organisations. You know what goes into it. And you know what comes out and how long that took. However, the complexities that occur within the black box of the database are harder to discern.
This is where the SolarWinds Database Observability comes in. This offering is built for the needs of the modern enterprise environment and helps ensure optimal performance by providing full, unified visibility and query-level workload monitoring across centralised, distributed, cloud-based, and on-premises databases. Organisations armed with SolarWinds Database Observability enhance their ability to understand database implications as new code is deployed, utilise real-time troubleshooting of database performance issues, and isolate unusual behaviour and potential issues within the database.
How does database observability help IT teams track and manage infrastructure, applications, and possible threats?
Database observability collects data about the performance, stability, and overall health of an organisation’s monitored databases to address and prevent issues, and provides deep database performance monitoring to drive speed, efficiency, and savings. With SolarWinds Observability — which supports MongoDB, MySQL, PostgreSQL, and SQL Server database instances — database performance, responsiveness, and error rate are conveniently displayed in dashboards.
Moreover, alerts can be configured to notify admins by email or other methods when user-defined thresholds are crossed. This allows them to identify and remedy issues before they can develop. By gaining insight into the activities taking place inside their database instances, teams can understand user experience as well as ensure systems can scale to meet demand.
What sort of enhancements has your observability platform received recently?
Just this November, we announced major enhancements in the Database Observability capability within our cloud-based SolarWinds Observability platform. SolarWinds Database Observability provides full visibility into open-source, cloud-enabled, and NoSQL databases to identify and address costly and critical threats to their systems and business. It is now possible to navigate across all of the samples collected globally, giving IT teams an empirical distribution of random samples, which resembles the main workload.
What factors according to you will drive the adoption of observability tools in the MEA region?
The Middle East, Türkiye, and Africa (META) are riding a wave of rampant digital transformation as organisations seek to remain competitive. According to IDC, digital transformation spending in the Middle East will accelerate at a compound annual growth rate (CAGR) of 16% over the five-year period, topping US$74 billion in 2026 and accounting for 43.2% of all ICT investments made that year. As organisations continue to shift workloads to multi- and hybrid-cloud environments, the complexity of their IT environments still continues to increase. This raises the potential for visibility and monitoring gaps which ultimately translate to underwhelming or outright frustrating experiences for end users.
Tell us about the top three trends you foresee for 2024.
There are clear signs of the continued adoption of cloud technologies to allow enterprises to become more agile, giving engineering teams the ability to focus on their core competencies and expand and contract on demand.
The adoption of Kubernetes is also increasing as the refocusing introduced by the cloud enables the move to microservices-based architectures which require sophisticated orchestration management.
Finally, we are starting to see an uptick in Vector databases, as applications demand better handling of relationships between data points.
What is going to be your top priority in terms of strategies for 2024?
We will continue to deliver on our vision of making observability easy. OpenTelemetry is driving observability, but data collection is nothing if it can’t provide insights. So, we aim to ensure the data is both collected and curated such that users find it easy to consume and extract valuable insight.
Regionally, through 2024, we will continue to focus on our key markets of the UAE and Saudi Arabia, the ongoing enhancement of our product portfolio, and the strengthening of our channel ecosystem to create more markets for our business and for our partners.
Cyber Security
ManageEngine Intros Enhanced SIEM with Dual-Layered System for Better Precision in Threat Detection

ManageEngine, the enterprise IT management division of Zoho Corporation, today unveiled the industry’s first dual-layered threat detection system in its security information and event management (SIEM) solution, Log360. The new feature, available in Log360’s threat detection, investigation and response (TDIR) component, Vigil IQ, empowers security operations centre (SOC) teams in organizations with improved accuracy and enhanced precision in threat detection.
A quality SOC ensures people, processes, and cutting-edge technology function well. However, enterprise security is made difficult by staffing shortages and solution orchestration complexities. Following recent upgrades to the security analytics module of Log360 designed to facilitate SOC optimization through key performance metric monitoring, the company has focused on addressing pressing challenges in security operations.
“In a recent ManageEngine study, a majority of respondents revealed that their SOCs are understaffed. These resource-constrained SOCs grapple with significant obstacles, such as process silos and manual investigation of alerts, which are often non-threats, low-priority issues or false positives. These lead to extended detection and response times for actual threats. To overcome these challenges, we recognize the imperative adoption of AI & ML for contextual event enrichment and rewiring threat detection logic,” said Manikandan Thangaraj, vice president at ManageEngine.
“We pioneered a dual-layered, ML approach to heighten the precision and consistency of threat detection. First, Vigil IQ ensures genuine threats are discerned from false positives. Second, the system facilitates targeted threat identification and response. This advanced system significantly improves the accuracy of identifying threats, streamlining the detection process and allowing SOC analysts to focus their valuable time on investigating real threats.”
Key Features of the Dual-Layered Threat Detection System of Vigil IQ in Log360:
Smart Alerts: Vigil IQ, the TDIR module of Log360, now combines the power of both accuracy and precision in threat detection. With its dynamic learning capability, Vigil IQ adapts to the changing nature of network behaviour to cover more threat instances accurately. It will spot threats that get overlooked due to manual threshold settings, thereby improving the detection system’s reliability.
Proactive Predictive Analytics: Leveraging predictive analytics based on historical data patterns, Vigil IQ predicts potential security threats, facilitating the implementation of proactive measures before incidents occur. This predictive intelligence drastically reduces the mean time to detect (MTTD) threats.
Contextual Intelligence: Vigil IQ enriches alerts with deep contextual information, providing security analysts with comprehensive threat insights. This enrichment of alerts with non-event context accelerates the mean time to respond (MTTR) by delivering pertinent, precise information.
Cyber Security
Cybersecurity on a Budget: Affordable Cybersecurity Strategies for Small Businesses

According to a survey by Statista, typically, global enterprises dedicate a minimum of 12% of their IT expenditure to information security measures. While larger companies can afford to spend a lot on building a robust cybersecurity strategy, smaller businesses cannot. So, let’s explore some affordable cybersecurity strategies for small businesses that may cost less but have a greater impact.
Train your employees
An article from Forbes found that, annually, 34% of businesses worldwide encounter incidents involving insider attacks. Whether intentional or unintentional, employees tend to be the reason for most data breaches. Per the same article, phishing emails account for 67% of accidental insider attacks.
Phishing attacks mostly instil a sense of urgency in the victim, making it harder for them to think clearly before making a decision. For example, employees may click an email announcement about a bonus that actually came from a malicious outsider impersonating your company’s CEO.
To avoid such mistakes, it’s imperative to train employees on the types of phishing attacks and the ways to identify them. Even going as far as sending a mock phishing email occasionally to test their instincts and educate them can go a long way.
Assess your vulnerabilities
One of the most important cybersecurity strategies is to assess all your risk points by periodically reviewing all your business processes. Pay more attention to teams that deal with a lot of customer data. For instance, sales and marketing teams may handle customer data on a day-to-day basis, so they are at high risk of leaking or mishandling data. Assess their daily activities, create a record of all the risk points, and find ways to mitigate them.
Encrypt your data
Encrypting your data can be an effective method to protect it in case of data leaks. Let’s say a hacker gets hold of your company’s data, but it’s encrypted. Unless the hacker gets the encryption key from you, they cannot access your company’s data. This adds another layer of protection in addition to the everyday cybersecurity best practices that you should be following in your company. So make it a point to encrypt all your data, especially sensitive and critical data.
Limit access to critical data
Not everyone requires access to all data. Try to limit access to critical and sensitive data to fewer employees by basing access on work duties or requiring approval for access, making it a multi-step process to access it. Additionally, periodically review who has access to what data to ensure there aren’t any misallocations of access.
Secure your Wi-Fi
A secure network will reduce the chances of a hack or unauthorized access to your sensitive data. So switch your Wi-Fi to WPA2 or later, as it offers more security. Your business might already be using it, but it’s best to be sure. Additionally, change the name of your SSID and have a strong pre-shared key to keep your Wi-Fi safe from hackers.
Prevent physical theft
Through April 2023, there were 3,785 robberies in London, and 1,765 were of mobile phones. This highlights how important it is to secure your physical assets, as they might contain critical and sensitive information about your organization.
Here are some ways to protect your physical assets, such as PCs, laptops, scanners, and printers:
- Restrict unauthorized access to assets.
- Install a physical tracker on all devices to track down lost items.
- Enable remote wiping of data to erase information if a device is lost.
Cybersecurity strategies are seldom drafted with affordability in mind. However, it is crucial to consider them from a financial perspective, as small businesses are also increasingly susceptible to cyberattacks. These tips can help you take the first step toward creating a secure IT environment. Learn more about cybersecurity solutions for your business.
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