Cybersecurity Threats in 2024: Industries and Regions Most Impacted

CloudSEK has published its 2024 Threat Landscape Analysis, providing detailed insights into the evolving cyber threat ecosystem. The report highlights the scale and sophistication of cybercriminal activity, identifying vulnerabilities and industries at risk while offering actionable solutions for strengthening defences.  

Designed for organizations, policymakers, media, and cybersecurity professionals, the analysis serves as a critical resource for navigating the current threat landscape.  

Dark Web Activity in 2024: Key Findings  

Threat Actor Trends

The dark web continues to operate as a central marketplace for stolen data and illicit services.  
- Active Threat Actors: Out of numerous cybercriminals, 45 highly active individuals were identified, collectively trading over 534 terabytes of stolen data globally.  
- Data in Demand: The traded data included personally identifiable information (PII), credentials, customer databases, medical records, and government files, increasing risks for both organizations and individuals.  

Key Platforms
 
Certain forums emerged as dominant hubs for illicit activities:  
- BreachForums: Experienced a resurgence following a temporary FBI seizure in May, leading to intensified activity in the latter half of the year.  
- Leakbase and XSS: Continued to serve as significant platforms for data trading and cybercriminal collaboration.  

Implications and Recommendations
 
The report underscores the urgent need for enhanced cybersecurity measures to combat the growing threats originating from the dark web. Organizations are advised to implement robust monitoring, secure access controls, and proactive threat intelligence to mitigate risks.  

This analysis offers valuable insights to help stakeholders understand and address the dynamic cyber threat landscape in 2024.

“Cybercrime is evolving rapidly, with underground forums not only facilitating illegal trade but also enabling collaboration among threat actors. This makes monitoring these spaces critical to understanding and countering emerging threats,” said CloudSEK’s research team.

Industries Under Attack

No sector was immune to cyber threats in 2024, with certain industries facing a higher concentration of attacks:  
- Retail: Over 230 incidents were reported, highlighting the value of customer data, including payment card information.  
- IT & Technology: This sector was a significant target due to its role in supporting critical digital infrastructure.  
- Communications: Attacks disrupted essential services, reflecting its strategic importance to cybercriminals.  

Geographic Hotspots

- United States: Leading the list with 140 attacks, attributed to its economic dominance and extensive digital infrastructure.
  
- India: Recorded 95 incidents, driven by rapid digitization, which exposed vulnerabilities in various sectors.  
- Israel: Faced 57 attacks, largely linked to geopolitical tensions and targeting critical infrastructure.  

These patterns underline the global scope of cyber threats, often motivated by financial gain, geopolitical factors, or the intent to disrupt operations.  

Ransomware: Escalating Risks in 2024  

Top Industries Affected

- Manufacturing: Accounted for 16.3% of ransomware incidents, causing significant operational disruptions.  
- Healthcare: Represented 10.8% of cases, with attacks affecting patient care and critical systems.  
- Real Estate: Comprised 12.1% of incidents, highlighting vulnerabilities in digital property management systems.  

Financial Impact and Attack Methods

- Ransom Demands: Average demands exceeded $2 million by late 2024, with groups like LockBit 3.0 and RansomHub dominating these attacks.  
- Data Exfiltration: Over 994 terabytes of data were stolen, showcasing a shift toward double and triple extortion techniques to increase leverage on victims.  

The findings from 2024 emphasize the persistent and evolving nature of cyber threats, targeting industries and regions with varying motivations. The scale and complexity of these attacks underline the critical need for enhanced cybersecurity measures across all sectors and geographies.

Cybersecurity Threats in 2024: Industries and Regions Most Impacted 

Industries Under Attack
  
No sector was immune to cyber threats in 2024, with certain industries facing a higher concentration of attacks:  
- Retail: Over 230 incidents were reported, highlighting the value of customer data, including payment card information.  
- IT & Technology: This sector was a significant target due to its role in supporting critical digital infrastructure.  
- Communications: Attacks disrupted essential services, reflecting its strategic importance to cybercriminals.  

Geographic Hotspots
 
- United States: Leading the list with 140 attacks, attributed to its economic dominance and extensive digital infrastructure.  
- India: Recorded 95 incidents, driven by rapid digitization, which exposed vulnerabilities in various sectors.  
- Israel: Faced 57 attacks, largely linked to geopolitical tensions and targeting critical infrastructure.  

These patterns underline the global scope of cyber threats, often motivated by financial gain, geopolitical factors, or the intent to disrupt operations.  

Ransomware: Escalating Risks in 2024  

Top Industries Affected

- Manufacturing: Accounted for 16.3% of ransomware incidents, causing significant operational disruptions.  
- Healthcare: Represented 10.8% of cases, with attacks affecting patient care and critical systems.  
- Real Estate: Comprised 12.1% of incidents, highlighting vulnerabilities in digital property management systems.  

Financial Impact and Attack Methods
 
- Ransom Demands: Average demands exceeded $2 million by late 2024, with groups like LockBit 3.0 and RansomHub dominating these attacks.  
- Data Exfiltration: Over 994 terabytes of data were stolen, showcasing a shift toward double and triple extortion techniques to increase leverage on victims. 

The findings from 2024 emphasize the persistent and evolving nature of cyber threats, targeting industries and regions with varying motivations. The scale and complexity of these attacks underline the critical need for enhanced cybersecurity measures across all sectors and geographies.  

Exploited Vulnerabilities in 2024: A Growing Cybersecurity Concern

Critical Exploits in 2024
  
The rapid exploitation of newly disclosed vulnerabilities underscored a critical challenge for organizations:  
- CVE-2024-4577 (PHP CGI Command Injection): Weaponized within weeks, affecting enterprise systems and exposing significant weaknesses.  
- CVE-2024-24919 (Check Point Information Disclosure): Exploited on a large scale, targeting government and enterprise networks.  
- Zero-Day Vulnerabilities: High-profile flaws, such as CVE-2024-3400 (PAN-OS Command Injection) and CVE-2024-23897 (Jenkins CLI Path Traversal), demonstrated the increasing sophistication of threat actors.  

Vendors Most Affected
 
Linux, Microsoft, and Fortinet recorded the highest number of exploited vulnerabilities, reflecting their widespread use in critical infrastructure and enterprise environments.  

Organizations are advised to prioritize timely patching and adopt robust vulnerability management practices to reduce these risks.  

CloudSEK’s Recommendations for Enhancing Cyber Resilience  

To address the growing complexity of cybersecurity threats, CloudSEK advocates a proactive and layered approach:  

1. Timely Patch Management

- Address known vulnerabilities promptly to minimize exposure.  

2. Continuous Threat Monitoring
  
- Deploy AI-driven tools to identify and respond to threats in real time.  

3. Strengthened Access Controls

- Implement measures such as multi-factor authentication (MFA), privileged access management, and network segmentation.  

4. Incident Response Planning

- Develop and regularly simulate response plans to minimize operational downtime during an attack.  

5. Awareness and Collaboration
- Promote cybersecurity awareness across teams and engage in public-private partnerships to share intelligence and enhance threat detection capabilities.  

By adopting these measures, organizations can better protect their systems and data against evolving cybersecurity risks.