It’s Just A Matter Of “Time” Before A Worldwide Cyber Attack Takes Down An Important Part Of The Worlds Economy!

Posted By on July 1, 2014

The new normal in computer cyber hacking and attacks will change the way we live at some point going forward. Cyber-spies are especially targeting utility companies all over the world. This will create havoc when it happens.

According to Bloomberg, a Russian group of hackers known as “Energetic Bear” is attacking energy companies in the U.S. and Europe and may be capable of disrupting power supplies, cyber security researchers said.

Among others, “The Dragonfly group is well resourced, with a range of malware tools at its disposal and is capable of launching attacks through a number of different vectors,” Symantec said. “These infections not only gave attackers a beachhead in the targeted organizations’ networks, but also gave them the means to mount sabotage operations.”

“When they do have that type of access, that motivation wouldn’t be for espionage,” Chien said. “When we look at where they’re at, we’re very concerned about sabotage.”

Symantec started actively monitoring Dragonfly’s activities in 2012, when the attacks only looked like espionage, Chien said. Some of the group’s malware infiltrates remote access software used by energy companies, giving attackers the same privileges as an industrial control system.

The hackers “Dragonfly,” appear to have the resources, size and organization that suggest government involvement, security company Symantec Corp. (SYMC) said in a blog post yesterday. The attackers are targeting grid operators, petroleum pipeline operators, electricity generation firms and other “strategically important” energy companies, it said.

Those group’s activities highlight the increasing reach of cyber attacks as ever-larger parts of the economy become connected and controlled via the Web. They may also be symptomatic of governments using hacking to support political strategies.

Sources: Wise Dog Research, Bloomberg

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