In 2024, cybersecurity research reveals that 61% of hackers exploit new vulnerabilities within 48 hours of discovering them. This rapid deployment of exploit code highlights the urgency of timely defense strategies. Companies are enduring an average of 68 days of critical cyberattacks, with ransomware being the most significant threat. The healthcare industry, in particular, has been hit hard, with ransomware responsible for 95% of all breaches, affecting over 198 million U.S. patients.
SonicWall’s Annual Cyber Threat Report outlines key trends, including a 259% increase in ransomware attacks in Latin America and a rise in IoT device attacks by 124%. Business Email Compromise (BEC) incidents have also surged, accounting for 33% of reported cyber insurance events. Additionally, the report identified over 210,000 new malware variants in 2024, with hackers relying increasingly on Living Off the Land Binaries (LOLBins) to evade detection and bypass security measures.
Artificial intelligence (AI) is playing a central role in making cyber-attacks more sophisticated and difficult to defend against. AI-driven tools are aiding cybercriminals in automating exploit chaining and obfuscating attack strategies, making it easier for them to launch attacks quickly. BEC attacks are evolving as generative AI allows hackers to create convincing phishing emails. Additionally, file-based attacks, especially those involving malicious HTML files and PDFs, have seen a significant uptick.
To combat these growing threats, businesses must adopt a multi-layered cybersecurity strategy, according to SonicWall. Key recommendations include implementing real-time patch management, adopting Zero Trust security models, partnering with managed security service providers (MSSPs) for 24/7 threat monitoring, enhancing ransomware defenses, and securing IoT devices. By acting swiftly, businesses can mitigate the potential financial and reputational damage caused by these increasingly sophisticated cybercriminals.
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