In the first half of 2024, the financial impact of Distributed Denial of Service (DDoS) attacks has reached new heights, with each attack now costing organizations approximately $6,000 per minute. The average attack duration has increased to 45 minutes, marking an 18% rise compared to last year. This surge in both the frequency and length of attacks has resulted in an average financial toll of around $270,000 per attack, underscoring the growing threat that these cyberattacks pose to unprotected entities.
The frequency of DDoS attacks has surged by 106% from the second half of 2023 to the first half of 2024, revealing a significant escalation in cyber threat activity. While long-duration attacks can severely disrupt operations, short-burst attacks, which last less than 10 minutes, still constitute the majority of incidents, accounting for 86% of attacks in early 2024. This trend indicates a shift towards more frequent, brief disruptions that are used to test the resilience of target defenses.
The rise in attack frequency and duration can be attributed to the increasing use of artificial intelligence (AI) in orchestrating these cyber assaults. AI-driven bot-based attacks have made it easier for attackers to launch more frequent and sustained attacks with higher request rates. This technological advancement has also led to a broader range of targeted industries, with HR and staffing, legal and consulting, and transportation sectors now appearing among the top victims of significant DDoS attacks.
Telecommunications companies remain the primary targets, accounting for 57% of attacks, while sectors such as education, manufacturing, and cloud services also face significant threats. Government entities have been hit the hardest, with attacks on them averaging over six hours in duration, a 41% increase from the previous year. The ongoing evolution of DDoS attacks highlights the need for comprehensive network protection strategies to mitigate the substantial financial and reputational damage they can inflict.
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