In the evolving landscape of cybersecurity, one threat that continues to loom large is Distributed Denial of Service (DDoS) attacks. DDoS attacks are designed to overwhelm or degrade a targeted system or application with a flood of traffic and have been a favorite tool of cybercriminals and hacktivist groups alike.
In a recent DDoS webinar, Hacktivists Rearm and Resurge: Understanding Today’s Trends, Shaping Tomorrow’s Landscape, Principal Security Architect Bryant Rump and Cyber Threat Intelligence Analyst Richard Wallace discuss the evolving threats from hacktivist groups observed over the last year and their outlook for what 2024 will hold.
The rise of hacktivist groups.
One of the key highlights of DDoS attacks in recent times has been the rise of hacktivist groups leveraging these tactics to push their political or social agendas. The motivations behind these attacks are varied, from disrupting services to spreading a message through service outages. And, DDoS attacks by hacktivist groups are only becoming more common, with over 15.4 million DDoS attacks in 2023 alone and 133 different hacktivist groups being active between October 24th and December 31st.
The targets of hacktivist groups.
As we delve deeper into the world of cyber threats, the impact of DDoS attacks on different industries becomes apparent. Communication service providers, financial institutions, and government entities are among the most targeted verticals due to their critical nature, broad user base, and PR value. Hacktivist groups even attack large, technically advanced targets, including:
- PayPal
- Microsoft
- European Financial Industry (IBAN, SWIFT, EIB)
This shows that even companies with well-established cyber security defenses can fall victim to a DDoS attack from hacktivists.
The far-reaching damage caused by hacktivists.
The damage caused by DDoS attacks makes them a preferred tool for cybercriminals looking to make a statement and/or profit from their actions. After all, the average cost of a DDoS attack is between $120,000 and $500,000. Much of those costs come from paying IT professionals to mitigate the attack, as well as lost revenue from customers not being able to access a company’s site during an attack.
However, the damage from a hacktivist DDoS attack isn’t limited to finances. A DDoS attack that shuts down a site or results in a data breach can also cause significant damage to a brand’s reputation and customer trust. In a recent survey by Vercara in partnership with Dynata, it was reported that a staggering 75% of US consumers and 87% of UK consumers would no longer shop with a brand that had suffered a security incident.
Hacktivist attacks in 2024.
Looking ahead to the future, the DDoS threat landscape is expected to continue changing in scope and complexity. With the discovery of new vulnerabilities and the proliferation of attack tools such as booters and stressors or IoT toolkits, the potential for larger and more damaging DDoS attacks remains a concern. Cyber security experts are constantly on the lookout for emerging threats, such as the recent revelation of the infinite loop DDoS attack, to stay ahead of malicious actors and protect vulnerable systems.
To learn more about the hacktivist groups behind these DDoS attacks, their potential targets, and how Vercara’s UltraDDoS Protect solution can help your organization avoid becoming a victim of one of these attacks, watch our webinar recording.
