Understanding the recent technology outage- key insights and recommendations

Understanding the recent technology outage: key insights and recommendations

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Last week the world experienced an unprecedented technology outage, and its impact is still affecting businesses, small and large. Many people were left stranded in airports, unable to access their finances, or without needed healthcare and medications. For all affected businesses, productivity came to a halt.

In the wake of this outage, our team has provided guidance and advice to our clients including insight into what conditions might make a business vulnerable and how to address them. We’ve summarized the key takeaways and provided a list of recommendations below to help you understand the risks and navigate them effectively.

What caused the outage?

The outage was triggered by an automatic update released by a software product called CrowdStrike, a popular security platform used by many companies globally. The automatic update interfered with Microsoft Windows operations, causing the notorious “Blue Screen of Death.” The fix required manual intervention to roll back the update and reboot the computers.

Are you at risk of a similar outage?

If you use a security product like Heimdal®, SentinelOne, Sophos, or Cyclone, you were not impacted by the recent outage. However, a similar outage could affect your system. It’s important to understand the precautions taken by the security solution you use and whether it has built additional risk mitigation into its architecture and controls. If you’re unsure about your exposure to a similar outage, our team is here to help.

Should you hold off on installing or updating your security products?

No, we don’t recommend delaying the implementation of best-practice security products. The risk of a security incident without the recommended suite of security products and services is far greater than the risk of a system crash like the one we just witnessed. In fact, many cyber experts fear that hackers will capitalize on this event as companies may opt to lessen security measures. We strongly advise against this course of action.

What else can you do to make your business more resilient?

Maintaining a strong, proactive approach to managing your security is key and must include rigorous testing. But beyond testing, your critical response processes should be reviewed to enhance your team’s ability to reduce downtime and mitigate risks.

Key takeaways

In short, don’t underestimate the effectiveness of a managed update process. But more importantly, refine and test business continuity plans, both from a technical and operational standpoint.

If you are a business that was impacted by the CrowdStrike outage, we empathize with your situation. While deeply unfortunate, businesses affected by the outage can learn from it. Use this opportunity to assess and refine your critical response plans to help prepare for the unexpected.

These assessments should be part of every business’s ongoing IT management program. If you would like to evaluate your security products and protocols or test your critical response plans, our expert team is ready to assist.

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CYBER INSURANCE READINESS AND RISK MITIGATION CHECKLIST

Follow these guidelines to manage your exposure to a security incident or widespread outage.

  • A next-generation security platform.
  • Automated user awareness training: Most security incidents can be mitigated through strong user training with tracking.
  • Application whitelisting: Block all applications except what is allowed.
  • Multi-factor authentication: The password alone isn’t enough anymore.
  • Segmented backups: Keep a separate backup of server and cloud data in a different location or with a different service provider.
  • Updating systems: Despite recent events, keeping systems up to date remains one of the most effective ways to stay safe.
  • Strong email filtering: Phishing emails are a favorite tool of cyber attackers.
  • Web filtering: Block access to known malicious websites.
  • Firewall management: Ensure systems are updated and configured securely.
  • Dark web monitoring: Monitor the dark web to ensure passwords for key executives are not published.
  • Administrative access management: Monitor key administrative level groups to ensure only authorized users are included.
  • Disk encryption: Ensure data stored on local PCs, servers, or cloud services is encrypted.
From Threat to Triumph- Lessons from a Cybersecurity Case Study

From Threat to Triumph: Lessons from a Cybersecurity Case Study

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Picture this scene: One quiet morning, the FBI shows up at your door. Your company’s network has been hacked, and you now find yourself in the middle of a battle with a well-known group of cybercriminals.

Last year, incidents like these jumped by a staggering 180 percent.

If you haven’t experienced a cyberattack yet, you’re lucky—but don’t get too comfortable. In the world of cybersecurity, it’s not about if an attack will happen, but when. Being ready can change a head-on collision into a mere fender bender.

A Real-World Scenario: Anatomy of a Cyberattack

A sophisticated cyberattack targets your thriving business as cunning and methodical attackers exploit known vulnerabilities in your system to steal sensitive data.

This isn’t just a cautionary tale—it’s a real situation that one of our clients recently encountered. During this critical period, the financial stakes were enormous. A major concern was the potential expense of notifying thousands of customers about the breach, costs that could escalate to hundreds of thousands of dollars. This situation was more than a risk; it was an immediate and costly reality that brought significant distress and concern throughout the company.

The attackers were part of Lockbit, a notorious cybercrime group. They planned their moves carefully, exploiting system vulnerabilities to initiate data exfiltration in an attempt to gain access to sensitive information stored by our customers.

Forced to move quickly, the cybercriminals realized that encrypting the data to hold it ransom wasn’t a possibility due to the robust tools in place. The next step was to exfiltrate the information on the server to expose sensitive data.

With comprehensive oversight of the customer’s environment, we were able to quickly pinpoint the infiltrated network drive. The rapid response benefits greatly from our initial setup of segmented data storage, which prevented sensitive data from being mixed with non-sensitive data. Working in close collaboration with the customer, we confirmed that the exfiltrated information was not sensitive.

The aftermath of the attack saw the intervention of the FBI to successfully apprehend members of Lockbit. This seizure proved crucial in identifying potential targets. But the real victory was in how the attack was handled. At the end of the day, the FBI applauded the iVenture security team for their thoughtful and strategic approach to managing the threat and keeping the system protected.

The Foundation of Cyber Resilience: People, Processes & Tools

In navigating the murky waters of a cyberattack, the orchestration of people, processes, and tools is critical.

Despite the advanced nature of the attack, the outcome was positive due to the seamless integration of managed IT environments, with robust cybersecurity and a dedicated support team enabling swift identification and containment of the breach in what resulted in a bad day, not a bad year.

In short, our successful mitigation of the cyberattack was no accident. It was the result of our targeted approach, focusing on people, processes, and tools:

  • People: Unlike many companies that may have access to advanced security tools, our strength lies in the integrated team of IT and security experts. Our dedicated security team worked hand-in-hand with IT operations including help desk, network, and systems administrators, managing the breach effectively. This collaboration extended to working closely with the customer’s internal team and executive leadership, enhancing our understanding of their systems for strategic and more effective security responses.
  • Processes: Our proactive security strategy extends beyond compliance. We emphasize extensive log monitoring to swiftly detect anomalies and issues within systems. This robust monitoring is complemented by an alert response system that enables us to act quickly on the information gathered. By identifying and addressing issues efficiently through these alerts, we minimize potential impacts. Our continuous analysis of logs and prompt response to alerts allow us to proactively manage threats before they escalate, ensuring our client environments remain secure and resilient.
  • Tools: No one tool can fully protect your infrastructure against an attack. We start by first asking ourselves, “What can we do to enhance and shore up our customers’ environment?”, and then we systematically choose and deploy the tools needed to ensure their environment is protected and secure.

This expert coordination and depth of knowledge, combined with our integrated approach to IT and cybersecurity management, turned a potential disaster into a controlled incident.

Lessons from the Frontline: Outcomes and Learnings

The aftermath of the cyberattack resulted in a few harrowing days but minimal lasting impact.

While achieving 100% prevention remains a pipe dream, the incident reinforced the importance of preparedness.

This experience brought to light several key lessons:

  • The integration of IT management, cybersecurity, and executive involvement is essential.
  • True security requires more than just standard solutions; it demands a comprehensive, customized approach.

Protect Your Business with Managed IT Services

Cyberattacks are an inevitable part of today’s business environment, but they don’t have to be disastrous with the right preparation and support.

At iVenture, we simplify cybersecurity. Our managed IT services empower your business, integrating seamlessly with your operations and focusing on reducing risks to protect your reputation. We implement strategic approaches to minimize vulnerabilities and safeguard your assets, ensuring that your data is secure around the clock.

Let us help you enhance your business resilience against digital threats, allowing you to focus on your core activities and enjoy peace of mind.