Surge In Cyber Threats: Radware Reports 265% Increase In DDoS Attacks During First Half Of 2024

Global Geopolitical Tensions and AI-Driven Cyber Threats Raise Alarm

The cybersecurity landscape is becoming increasingly perilous as web-based Distributed Denial of Service (DDoS) attacks soar by 265% in the first half of 2024, according to a new report from Radware® (NASDAQ: RDWR), a leader in application security solutions. The report, which covers global cyber threat activity, attributes much of the increase to heightened geopolitical tensions and the growing use of artificial intelligence by malicious actors.

Key Insights from Radware’s H1 2024 Global Threat Analysis Report:

• Unprecedented Surge in Attacks: Web DDoS attacks have not only increased in frequency but also in severity. EMEA (Europe, the Middle East, and Africa) was the hardest hit, with over 90% of global web DDoS attacks targeting the region.
• Financial Sector Under Siege: Financial institutions remain a primary target, experiencing 44% of all network-layer DDoS attacks. The industry also faced a record-setting six-day assault that disrupted operations with sustained attack waves over 100 hours.
• Hacktivism on the Rise: Pro-Russian hacktivists doubled their attacks on Ukraine compared to 2023. Telegram, a messaging platform often used by cybercriminals, has become a hotbed for coordinating these efforts.
• Widening Global Impact: While EMEA experienced the bulk of web DDoS attacks, North America was the target for 66% of web application and API attacks. In the Asia-Pacific region, the average volume of network-layer DDoS attacks surged by over 300%.
• The Role of AI: With the democratization of AI technology, particularly large language models, more threat actors are now leveraging these tools to enhance the scale and sophistication of their attacks.

Looking Ahead: Radware’s Director of Threat Intelligence, Pascal Geenens, warns that the situation is likely to worsen as 2024 progresses. Major upcoming events, such as the U.S. elections and economic uncertainties, could exacerbate the frequency and intensity of cyberattacks. With AI tools becoming more accessible, cybercriminals are expected to exploit these technologies further, posing new challenges for businesses worldwide.

Protecting Against the Rising Threat: As cyber threats evolve, businesses must bolster their defences to protect against increasingly complex and frequent attacks. Radware’s report underscores the need for organizations to invest in advanced cybersecurity solutions that can adapt to the shifting threat landscape.

For businesses of all sizes, understanding and preparing for these emerging threats is crucial not just for protecting sensitive data but also for safeguarding their reputations and operational continuity in an increasingly digital world.

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