Traditionally, ransomware attacks are seen to hit local drives (endpoints), but the trend might get shifted now. Cloud storage is long termed as a safe storage drive from ransomware attacks, but the research by Proofpoint is ringing the threat bell.

Researchers from Proofpoint have discovered a feature in the Microsoft 365 suite that could be misused to encrypt files stored on OneDrive and SharePoint. In fact, the ransomware attack would be so strong that you will not be able to recover files without dedicated backups or decryption keys from the attackers. So, let’s explore more about this ransomware attack on OneDrive and SharePoint files. But first, let’s take a brief look at ransomware.

Ransomware – Quick Overview

Ransomware is one of the malware types that takes the control of the victim’s system or account to block access and also encrypt the data. There are many ways for ransomware attackers to penetrate the victim’s system. The most popular way is the phishing approach in which the victim is tricked to share login details or click a malicious link/file that then installs the malware in the system. Alternative, system loopholes can also be used to penetrate the user’s system/account.

Once ransomware attackers are successful in penetrating the system, they can do a lot of activities, i.e., block access, encrypt data, mine cryptocurrencies, etc. In most cases, attackers encrypt the data and then ask for a ransom fee to decrypt the data. Moreover, many attackers even offer a discount for early payments so that the victim doesn’t think much and pays the ransom quickly. In addition, attackers also provide a complete step-by-step guide on how the victim can complete the transaction.

New Vector – Now your Files in OneDrive and SharePoint can be Locked

Proofpoint has identified a dangerous feature in Microsoft 365 that empowers ransomware attackers to encrypt the OneDrive and SharePoint files in the compromised users’ accounts. Afterward, the files could only be accessed back by paying for the decryption key or recovering the dedicated backup made beforehand.

The research by Proofpoint indicates the “AutoSave” feature of Microsoft 365 as a potential threat. This feature is meant to make copies of older versions of files stored on OneDrive/SharePoint. The attack chain as pointed out by Proofpoint could go as follows:

Initial Access

Attackers start by first gaining access to the user(s) OneDrive or SharePoint account(s) through compromising login credentials, tricking the victim to allow third-party OAuth apps, or hijacking the web session of a logged-in user.

Account Takeover

After successful penetration of the user account, attackers have access to all the files stored by the user in OneDrive or SharePoint.

Collection and Exfiltration

Reduce the version limit of files to a low number, like “1” and then encrypt the file more times than the version limit, i.e., encrypt the file twice if the version limit is set to 1. Besides that, attackers can also do a double extortion tactic by exfiltrating the encrypted files.

Monetization

Once the original versions of the files are lost and the encrypted versions are left in the user account, the attackers can then ask for a ransom to decrypt the files.

All the above steps can be automated using Microsoft APIs, PowerShell scripts, and command line interface scripts.

The document library in OneDrive and SharePoint is based on multiple attributes, where one attribute is the number of saved versions that the user can change. When a user reduces the document library version limit, it means that new changes in the file will make older versions quite difficult to restore.

So, what attackers can do is they can either create so many file versions or change the limit of the version to just “1” and then encrypt every file more times than the version limit. For example, the default version limit in most OneDrive accounts is 500. So, attackers can edit document library files 501 times. This way, the original version of every file is the 501st version file, which is no longer accessible. Alternatively, they can set the version limit to 1 and then encrypt the file twice.

What to Do if You Get Hacked and They Ask for Ransom?

From the above research work of Proofpoint and the vulnerable “AutoSave” feature of Microsoft 365, there are clear signs that ransomware attacks can occur in your cloud storage. When this vulnerability was discussed with Microsoft by Proofpoint, Microsoft stated that the older versions of files can be recovered by an additional 14 days through the help of Microsoft Support. However, Proofpoint did follow that but failed to restore older versions.

So, if you get a victim of a ransomware attack and your data is encrypted in your cloud account or local drive, then the one quick option is to pay the ransom and get the decryption key. But this approach is not recommended because you never know if the decryption key would work, you will get back the data, or the attacker might demand more money. Moreover, it also encourages attackers to do more such attacks.

The recommended steps you should immediately perform after the ransomware attack are as follows:

• Disconnect and isolate the infected device.
• Contact your local authorities.
• Reach out to a cybersecurity expert to try to remove malware.
• Look for the data backup you might have created beforehand or try to restore data from others if you have shared it with them.

In short, you should try every possible measure that you can take to retrieve data without paying the ransom.

Ways to Store Files Securely (on your PC)

Ransomware and other cyberattacks are a serious concern today. As per Cybersecurity Ventures, cybercrimes will cost the world $10.5 trillion annually by 2025. So, it is important more than ever that we store our data and files securely. Below are some of the effective ways to store files securely on your PC:

1. Encrypt files/folders in Windows. To do that, right-click the file/folder and then click Properties > Advanced > Encrypt contents to secure data > OK.
2. Control the access to your files/folders in Windows. To do that, right-click the file/folder and then click Properties > Security > Edit. Afterward, select the user’s name or group and then click “Deny Access”. This way, the user/group will have to enter an administrative password to access that file/folder in the future.
3. Use third-party tools to encrypt sensitive files/folders.
4. Make regular backup of your files in the cloud or external hard drive.
5. Use antivirus software.
6. Keep your operating system and software up-to-date and patched.
7. Avoid giving administrative access to all software.

To sum up, you should deploy every possible measure you could take to secure your files on your PC. These measures do not guarantee complete protection from cyberattacks, but they can minimize the chances greatly.

It is becoming increasingly more important for universities to take precautions against cyber crime. Whether you want to protect yourself and your network, ensure data privacy, or prevent a ransomware attack, there are steps that you can take as an individual that will help protect your computer. Below are tips on how to secure your computer in university when giving cheapest writing services to earn money part-time. Protecting your computer is a major concern that everyone should at least try and consider to protect themselves, your colleagues, and your university’s data.

1. Install Antivirus Software

Antivirus software can go a long way to protecting your computer and ensure the validity of your information. Windows Defender is free and does the job for many users. You should also scan your computer regularly, as often as once a week is recommended, to ensure that you are always protected. However, it should be noted that antivirus software alone will not keep you completely secure.

2. Use Extended Permissions

An individual that has access to limited information on a network, but can change it all without being noticed, represents a big risk for any company or university. Use extended permissions when setting up or changing passwords for your accounts.

3. Change Passwords Often

The most common way for a hacker to gain access to an account is by extracting or guessing the password from the user. Therefore, it is important to ensure that your passwords are strong enough that it would take a significant amount of time before the hacker was able to guess it correctly. If there are any changes in your life that could affect the strength of your password, you should change it immediately. This includes changes in personal information such as address and phone number, or details related to work such as job title and responsibilities.

4. Control Your Social Media

While you should be careful about what information you put on social media, you should also be careful about what information you share on your social media. This means that any personal details, such as address and phone number, should be shared only with people that need it and not posted anywhere for all of the world to see. Therefore, if you are asked to provide this kind of information in an application or form sent over email or fax, do not provide it. You could lose access completely if a screenshot is taken of your address or phone number.

5. Lock Down Your Work Computers

If you have an office or work computer that you use, it is important to ensure that it is completely locked down. This means no browser tabs or files can be open on the machine – this includes accessing files and applications on a flash drive. If a computer at work is infected, you could be at risk of data leakage because the virus could infect other machines on the network. In addition, do not leave your inventory of equipment up to anyone. The information should be kept in a safe place inside your building or locked in a locked file cabinet.

Conclusion

Cyber crime is increasing on a daily basis and the sophistication of hackers is improving by the day. Therefore, it is important that you take the necessary precautions to protect your computer. It is important to remember that these tips will not necessarily secure your computer fully, but they represent an excellent starting point on how to secure your computer in university.

Businesses are constantly updating their cybersecurity to protect company data and avoid breaches. While your company may have the best security so that hackers cannot infiltrate their database, being alert and vigilant as an employee is essential. 

Scammers and hackers are looking for different ways to access company servers. The easiest way these cyber criminals can enter the system is through a human error by employees because most of them are not equipped with basic cybersecurity information. 

Suppose you work in an industrial company and want to be updated with the latest safety policies and techniques to protect your system. You consider taking this industrial cybersecurity training on Abhisam.

Before freaking out about whether or not your system is protected, read these quick security tips so that you can stay protected at all times. 

Stay Up to Date 

One of the best ways to protect your data and avoid security breaches is to keep updating your system. Whether it is the company phone, laptop, or desktop, ensure that you have the latest updates, as it will tighten security. Most updates are released when they are bugs or errors in the current update. Regularly updating your system will ensure the latest software version protects your device. Make sure that you back up your data before you update. 

Beware of Phishing Emails 

One of the most common security breaches is phishing emails or calls. As an employee, it is essential that you recognize these emails and consider them as a threat. The goal of these types of emails is to gain access to the user’s personal information and comprise their account or steal sensitive data. If you come across any emails, it is best that you delete them and report them to your manager or IT support. Always ensure that the sender is trustworthy before clicking on any link or opening any attachment. 

Multi-Factor Authentication 

As much as having a strong and unique password, you should enable multi-factor authentication. It is one of the easiest ways to protect your system, as it will become difficult for hackers and scammers to access your account. The MFA will ensure that your account will need a password plus another verification so that even if someone gains access to your password, they cannot breach your account. Another quick tip is to change your password every six months; it will reduce the risks of your account being hacked.

Use a Secure Wi-Fii Network 

If you travel and work or choose to work at a cafe, which is the norm, with work-from-home benefits, make sure you avoid public Wi-Fi. These networks in public spaces are not secure and allow hackers to invade your device. If you use it, make sure you limit your browsing activities and delete the network once you leave that place. It is best that you carry your portable network or use a secure VPN which is a safer option when accessing office data. 

Lock Your Devices

Make sure that whenever you leave your work-assigned station, lock your device. Whether it is a phone, tablet, or computer, it is the simplest thing that will help you protect company data. Leaving your data unattended is a big risk, even if you are home or traveling, as anyone can gain access to your account. Secondly, make sure that you back up all your data and keep minimum or the least important data on your computer. This will minimize the impact of any breach and protect your data from being misused. 

Avoid Company Devices for Personal Use 

If a hacker gains access to your company device that you have used for personal work, they will also have access to your accounts. Keep in mind that company systems and accounts are secured with high-grade cybersecurity. But your accounts are not equipped with these security benefits, so it gives your hacker access to your sensitive data. That’s why it is best to avoid using any company device for personal use and protect your accounts from being linked to your company device. 

Be Alert 

Most companies will train their employees to understand and follow company protocol to the letter. Remember, these trainings are done so that whatever you do is under the company roof and will ensure that their data is shared only within the department. The IT department can be your best friend regarding cybersecurity, so feel free to ask them questions before doing anything. Above all, stay alert and make informed decisions so that no one can access the company’s sensitive documents. Inform your manager about any confusion, as it can lead to a breach if you are not careful enough. 

By following these seven steps, you will be able to protect your devices and keep the company data safe from cybercriminals. If your company is still not equipped or partnered with a cybersecurity service, here are some reasons that will change your mind. 

In this tech-oriented age, big data is the most valuable asset on the face of this planet. Keeping the data protected and implementing data privacy practices are necessary more than ever. Here are the reasons you should focus on ensuring data privacy at the workplace for better business outcomes.   

Understanding Data Privacy

Most people confuse data privacy with data security. While data security focuses on protecting data from cyberattacks and related data breaches, data privacy focuses on how the information will be collected, used, and stored. The use of data by companies will only be possible when the company or business has user consent and adequately follows the set regulations. In simple words, data privacy is a branch of data security that defines how user data should be handled on an individual or a corporate level. There are several regulations like the GDPR and CCPA, and the consumer privacy act that businesses need to follow to avoid violations and stay protected from data breaches. 

The better you understand all aspects of data governance, the easier it becomes to implement effective privacy frameworks. Companies like to hire specialised data privacy consulting services to teach and train their teams on proper data handling practices and regulatory compliance. These consultants help businesses map data flows, identify risks, and implement practical policies. With expert guidance, organisations can build trust with users and reduce the likelihood of legal issues or reputational harm.

Valuable Asset

Data is the most valuable asset in today’s digital economy. Collecting and sharing of data is a huge deal nowadays but for companies and businesses working with customer data, it is necessary to safeguard the data and only collect data that doesn’t violate any data privacy laws. There are certain guidelines issued by relevant authorities that educate workplaces to responsibly use the collected data for their business growth. 

Code of Ethics

Virtually every business and company has a code of ethics that ensures the integrity of a business. A code of ethics is the best practice a company follows to stay compliant. The code of ethics might be in the form of a document or simply followed as they believe it to be right. Implementing data privacy protocols ensures the business thrives well. 

Brand Recognition

No matter the type of products or services you are offering, carrying out everything responsibly will lead to building positive brand recognition. If your brand is trustworthy, customers will be comfortable sharing their data. However, if the company or business has a bad reputation when it comes to data privacy and protection, it will lose its credibility and the trust of the customers, and fail to gain a competitive advantage. 

The key to boosting your brand identity and recognition is by educating employees about data privacy. Share and discuss the data privacy law and your company’s data privacy policies so they can handle data swiftly. Providing hands-on training is required for cyber security matters so the employees can detect any red flags and take the required actions to ensure data safety. Staying up to date with the key trends in data protection is another aspect that you will work on to achieve effective results. There are a plethora of cyber security training providers catering to the corporate sector. When opting for training services, don’t forget to compare the available options, evaluate the firms providing the most value, and ensure they have the required certifications to conduct these training sessions. 

Customer Concerns

Nowadays, customers are more vigilant than ever when it comes to sharing their data. As digital technologies are improving, so are the cyberattacks and data hacking methods. Most companies take user consent for fair data use and sell it to third parties, further raiding the concerns of customers. Staying compliant with the regulatory policies and ensuring user data protection can gain trust and improve your customer base. Implementing the required regulations also improves your brand value as more customers see a positive track record. 

Competitive Advantage

Customers don’t welcome poor data privacy policies and companies with a history of failing to provide the required data protection. You might have gone through a recent social media platform scandal that used personal data while violating compliance guidelines. This resulted in a massive decrease in the number of users and opted for alternate platforms offering better personal data security. By staying compliant, it becomes easier to stay up and thrive even in stiff competition.

Ways To Ensure Data Privacy

Besides following the relevant policies and regulations, there are several other ways to ensure data privacy and better safeguard user information. One thing to work on is limiting the collection of information required for your business. Furthermore, sensitive data needs to be documented and logged. Creating an inventory of sensitive data is a great consideration.

Protecting data and complying with the regulations is a constant process that requires knowledge of the latest practices and ways to implement them effectively. We hope the information we shared assists you in better understanding data privacy and related aspects.

Today, many organizations have had to switch to a hybrid and remote working system along with the difficulties caused by the Covid-19 pandemic. The remote working system, which has become increasingly widespread in recent years, can put organizations at risk at some points. Cyber attacks and malicious activities that try to exploit a lack of physical protection can compromise organizations’ confidential data and company resources.

These risks of working remotely can make effective cyber security approaches and measures mandatory. Zero Trust, one of these approaches, strives to provide access to company systems in the most secure way. Thanks to the increase in the use of remote devices in the remote working system with cloud-based technologies, Zero Trust approach has become increasingly important.  

According to research in 2022, Zero trust security had a significant influence on the development of cloud security strategy, according to 34 of worldwide. Thanks to the Zero Trust approach, you not only keep secure your remote devices but also protect company resources, confidential information, and data. With this approach, which is much more useful than a service, it is much easier to protect your entire company system.

What Is Zero Trust?

Zero Trust can be defined as a framework that provides network and security solutions to organizations based on a set of principles. One of the basic principles in this security approach is that a user who accesses the network once authenticates the other accesses. That is, to avoid assuming that anyone who enters the network once will always be trustworthy.

Zero Trust, whose basic principle is “Never trust, always verify”, sets the limits of internal perimeter security. As companies’ systems are now accessible from anywhere in the world and endpoints are relocated from a distributed workforce, authentication is constantly performed across the network. It always double-checks, and never lets any risky activities.

What Are The Benefits of Zero Trust?

Zero Trust, one of the most important security approaches that business leaders should adapt to their business, has many practical benefits. In addition to providing general security for businesses, it also minimizes security risks. It reduces the negative impact on the reliability of businesses in the event of a breach. The main benefits of Zero Trust, which has more influence than these, are as follows.

Protected Data

The value of your network is determined by the level of security of the data it stores or carries. One of the most important features of Zero Trust to know is that it provides comprehensive protection for data on the network. The secure circulation and storage of data are of great importance for the Zero Trust approach. Zero Trust achieves this through its unique features such as traffic encryption, VPN, and data loss prevention.

Advanced Network Security 

Applying the Zero Trust security approach is highly effective in enhancing network-wide visibility. Being able to see from which users, devices, locations, and reputations the access requests come allows us to prevent and repair the problems that may arise from them in advance. Security tools and approaches give you the visibility and control needed to identify where potential problems originate, where problems originate, and where malicious threats come from.

The user identification in question will be denied access if a user, device, or activity cannot be identified. Therefore, network segmentation prevents users from moving laterally across a network, which is frequently linked to system breaches, rather than limiting them to the resources required to carry out their assigned tasks.

Reduction in Costs

Zero Trust simplifies your security strategy, saving you money. You can lower your costs with more integrated tools that are compatible and work with the rest of your network infrastructure. 

The damage from the attack on the network and the decline in customer trust make the Zero Trust approach a good way to invest in the future of your business. Thanks to Zero Trust solutions, you provide security to your business by reducing costs and performing transactions easily.

Less Damage from Breaches

Network segmentation and users are only given limited access to the resources they need as part of the Zero Trust architecture. A violation is, therefore, more likely to have a much lower impact on business interruption.

Therefore, lower-level impacts are further less likely to have a cascading impact that harms a company’s finances, reputation, and ability to maintain the trust of its stakeholders and consumers.

Why Is Zero Trust Necessary? 

Zero Trust plays a major role in ensuring the overall cyber security of companies and in taking effective action in case of possible dangerous cyber attacks or data leakages. These attacks or leakages may not only occur outside the company, but also inside the company. 

Zero Trust, a system that can predict such situations, provides protection by not giving everyone the same level of access. In this way, it minimizes the risks of security vulnerabilities and provides comprehensive protection.

Zero Trust solutions such as multi-layer authentication and high-level encryption allow you to handle the access and data security process in the best way. It is also very effective in identifying possible threats and detecting attacks beforehand. This security approach supported by these high-end technologies should be integrated into the company system by every company, regardless of company size.

Conclusion

Today, with the increase of remote working systems worldwide at a very high rate, cyber attackers are also finding new ways to carry out their malicious activities. Therefore, security systems are essential in preventing or detecting malicious activities before they happen. Keeping your remote devices safe, especially your computers, mobile phones, or tablets, prevents outsider access to the company system.

The security approaches you will acquire to protect your data will also ease the workload of IT teams, thanks to the convenience it provides. Effective solutions of security approaches provide advanced security thanks to state-of-the-art technologies. These security approaches, like Zero Trust, provide a high-level response to actual or potential cyber attacks and security vulnerabilities.

You may have heard about the dark web before and wondered what it’s all about. Many people are curious about the dark web and what it entails. However, most are also cautious about it at the same time, being wary of the dangers that might be lurking underneath the surface of this mysterious side of the internet.

But, the dark web is nothing to be afraid of. t’s just as dangerous as the surface web can be at times. Exploring the dark web won’t necessarily put you at risk, but there are some important things you need to understand about it before you dive into it.

This article will tell you everything you need to know about the dark web before you venture into the unknown. As long as you take the right precautions, the dark web is nothing to be worried about, and it’s completely fine to explore it. Keep reading for your crash course on the dark side of the internet.

What is the Dark Web?

The dark web is a part of the internet that is somewhat hidden from the public eye. It’s somewhat hidden because you need a special browser to access the dark web, but anyone can download the browser to gain access to this hidden section of the internet.

The browser in question is the Tor browser (the Onion Project), and it has an interesting backstory to it. This special program was developed in the late 1990s by the United States Naval Research Laboratory. The browser would allow their spies to communicate with one another securely and privately without their messages being intercepted by unauthorized individuals.

After some years the program was repurposed to become the anonymous browser that it is today. Nowadays the tor browser can be used to access a collection of “hidden” websites known as the dark web while browsing anonymously. The browser can be downloaded and used by anyone without any fees attached — much like Google Chrome or Firefox.

The Tor browser accesses the dark web through a random path of encrypted servers referred to as “nodes”. Much like a VPN, this allows Tor users to browse the dark web without their actions being traced. Added privacy and security come from the websites on the dark web too. Websites use anonymous software known as I2P (Invisible Internet Project) which allows their owners and hosting servers to remain hidden and untraceable.

There are three main benefits to using the dark web as opposed to the ‘surface’ web;

• Anonymity
• Untraceable websites and services
• Opportunity illegal actions for both users and providers

Is the Dark Web Truly Dangerous?

There’s a misconception that the dark web is a dangerous place — like a black market on the internet. The dark web has been painted as a hive of cybercriminals who take advantage of being secure and anonymous online. While this is partially true, there are some perfectly safe areas of the dark web. In fact, many people use the dark web without malicious intent!

The dark web simply attracts people who need to remain anonymous on the internet. While this does include various types of criminals, many other people will also use the dark web to their advantage.

It’s not illegal to use the Tor browser or browse the dark web. Anyone who needs to work with sensitive information online can use the dark web to ensure that their information is safe and secure. This can include government agencies, legal parties, censored journalists, and even persecution victims.

That being said, the dark web can be a dangerous place — it all depends on the content that the user is engaging with. The websites that the user accesses and their actions on the dark web can lead to the coming across the more dangerous elements. In this way, the “dangers” of the dark web are very similar to that of the surface web.

While you’re browsing the dark web, there is always the risk of running into something dangerous. Below are some of the main threats that you could encounter while surfing the dark web on your Tor browser:

• Malicious software – just like the surface web, you can run into various types of malware while you’re browsing the dark web. From viruses to spyware and ransomware, you need to be prepared to deal with the malware that your device could pick up.
• Government monitoring – while the Tor browser is anonymous and your activity can’t be tracked there is one important factor to keep in mind. Authorities and government agencies have taken over some websites. They use these websites to monitor which devices access the website. You could paint a target on your back simply by visiting one of these dark websites. This is mostly relevant to websites that contain illegal elements.
• Scams – scams are a dangerous part of the dark web that you need to be aware of, much like you would find on the surface web. However, the danger that you face on the dark web is that it’s impossible to track down a scammer, making these scams even more devastating.

How to Stay Safe on the Dark Web

So, now we know that the dark web can be dangerous, but just like the surface web, it’s not always dangerous. There isn’t much-added risk to browsing the dark web compared to the surface web — it all depends on the content and the websites that you engage with. However, it’s never a bad idea to consider some safety precautions. IF you’re going to be browsing the dark web, make sure to invest in premium cybersecurity tools that will ensure your privacy and safety are maximized.

The main tool you need to invest in is premium antivirus software. Antivirus software will constantly scan your device for any viruses or malware. If any malicious software has been detected, the antivirus software can take action to remove it from your device before it causes any further damage.

You may also consider investing in a premium VPN to ensure that your location and internet traffic cannot be traced. While browsing the dark web, it’s always a good idea to have an extra layer of safety, even if the Tor browser offers anonymous browsing as it is.

Let’s take a closer look at the biggest cloud storage security risks so that your organization doesn’t run the risk of facing them. Ultimately, it’s your job to make the right decisions that help your organization provide resilient services. 

Cloud storage has become one of the rapidly growing segments in terms of IT spending. But, cloud security breaches constantly make news headlines for mismanagement by an unnamed third party or a misconfigured database.

The Gartner report states, “Through 2025, 90% of the organizations will fail to control public cloud use and share sensitive information.” Furthermore, cloud storage security risks will cost dearly, overspend by up to 50%.

In this blog post, we’ve curated a list of some of the common yet major cloud storage security risks that come with using cloud solutions. It also helps you deal with them if they ever happen to you. So, let’s dive right in. 

Top Cloud Storage Security Risks That You Need to Know About

1. Unauthorized Access to Data

Unauthorized third-party access to files is a well-known threat that many organizations fail to address. It is crucial to ensure that the data is accessed only by authorized individuals and for legitimate reasons only. Unauthorized access includes accessing enterprise data, networks, devices, or apps, without having proper permissions. The good thing is that poor access control can be tackled through security solutions in combination with access management policies. 

Check out some of the essential tips to prevent poor access management:

• Use third-party security tools to get lists of users, groups, and roles from cloud service environments. After that, the security team will be able to sort and analyze it; learn more about available tools.
• Keep logging and monitoring mechanisms in place to detect unauthorized changes and unusual activity. 
• Last but not least, develop a data governance framework for all user accounts. The user accounts should be connected to the central directory services such as Active Directory, which can monitor and revoke access privileges. 

2. Data Privacy

Besides asset tracking, the data is essential for your organization; no one should be able to access it unless you allow them to. With cloud storage getting popular, storage security is also becoming a widely discussed topic. Some of the common cloud data privacy breaches stem from:

• File-based malware
• Insecure APIs
• Misconfiguration
• Weak IAM(Identity and Access Management) policies

What’s more? Cloud data breaches also include some biggest threats such as  destruction or corruption of databases, leaking of confidential information, the theft of intellectual property and regulatory requirements. According to Forbes, data breaches exposed 4.1 billion records in the first six months of 2019. Businesses of all sizes must get their security stronger. 

Being a business owner, how can you be sure that nobody can access sensitive data or information when you do not maintain the servers? So, whenever you migrate sensitive data to the cloud, there are chances that you might be losing essential privacy controls. To address this, it’s best to seek assistance from cloud migration service providers and familiarize yourself with the best practices for using cloud storage solutions. Which are as follows:

• Investing in employees’ education and training
• Acknowledging the responsibilities you share with the providers you choose.
• Developing strategies, policies, and internal effective best practices.
• Adding native data protection with extra security measures. 
• Figuring out which data should be stored in the cloud.

File sharing enables you to maintain control over the most important company data while guaranteeing compliance and the highest level of security. Share private information without endangering it.

3. Lack of Backup Services

When it comes to storage systems, one of the major complaints received is that there’s no automatic backup functionality. Rather, you need to make plans to backup the data you store on the cloud yourself. Some providers avail the automatic backup functionality and help keep your data safer. But, there are also those who don’t. Make sure you choose a provider which allows automatic data backup.

 In case of an unexpected event, enterprise data backup tools will provide your organization with data protection and quick recovery by storing your data on a remote server.  

4. Rogue Devices

Another cloud storage security risk is providing the ability to employees to work on a Bring Your Own Device (BYOD) basis. This trend has been in popularity since more employees prefer to use their own device at work. Owning the fact that they are more used to their interfaces or have higher specs than company-provided devices. 

Undeniably, the BYOD culture has a win-win solution for both employees and employers since it helps in saving expenses for buying IT equipment for employees and it also gives more flexibility to employees. But, you can’t imagine how BYOD culture brings major security risks if it is not managed properly. Lost or misused devices mean that your organization’s sensitive data & information are in the hands of a third party who could breach the company’s network and steal valuable information. Therefore, the best way to protect data and security against this threat is to ensure that the data is encrypted and transmitted over a secure connection and to prevent outsiders from accessing the cloud’s metadata.

5. Poor Incident Response

When it comes to giving responses to internal cybersecurity incidents, organizations must have their strategies in place. Organizations also must own all their internal network infrastructure, and security personnel are on-site; therefore, it is possible to lock down the incident. The main goal is to effectively manage the incident so that the damage is limited, plus some factors like recovery time, costs, and collateral damage (brand reputation) are kept at a minimum. 

Above all, if the company wants to prevent data breaches, a practice should be followed to have a comprehensive incident plan that embraces cloud security. 

Conclusion

The cloud environment has been rapidly changing since its emergence. It also makes it difficult to detect and respond to threats quickly. Cloud assessment helps in identifying and mitigating security risks in cloud computing. It helps identify several major security threats such as data breaches, lack of cloud security architecture and strategy, misconfiguration & inadequate change control, account hijacking, and insecure interface & APIs.

Moreover, implementing a cloud strategy can give your team a clear and shared idea of your business objectives and best practices when working with information online. On the other hand, the above-mentioned cloud storage risks can emerge as issues like misalignment, scalability challenges, productivity slowdowns, and security gaps. These security risks could put your whole organization at risk. 

You need to develop an effective strategy that includes standard guidelines and practices for your business. It should be a document that changes with your business needs and your cloud services. 

The last couple of years were a wild roller coaster ride for all the participants in the NFT space. Ever since the rapid expansion of NFTs many people started considering them as an investment drawing the price even higher.

Some images even reached multiple millions of dollars, which is unbelievable.

However, this year the NFT market seems like it is cooling off and going back to its normal progression as a revolutionary technology that can be used for many things.

As with anything in this world whether we are talking about stocks, crypto, NFTs, houses, or cars, as the demand rises, the price of individual assets climbs higher. However, this has the same effect when the demand starts to decrease, in which case the price drops.

This year many things suggest that we are in a bear market considering NFTs. With lower trading volume, the NFT marketplace seems like it is cooling off from the rapid expansion not too long ago. Nonetheless, there are numerous games appearing connected to NFTs, like this one: https://wizardia.io/

So, even though the situation has stabilized and we’ve seen lower demand for NFTs, have they still considered a hot market? Let’s find out.

Are NFTs Still Popular?

To find out whether NFTs are still considered one of the best investments we have to look at data. There is no doubt that the NFT marketplace had a rough start this year.

If we look at the trading volume at the beginning of the year, we can spot a huge drop. In February alone, the NFT trading volume dropped from almost $4 billion in a week, to around $965 million until March.

This marked the lowest weekly trading level of NFTs since August 2021.

With such a significant drop, everyone started to think that the NFT craze is over and possibly look for an exit strategy. However, the NFT marketplace was not done yet. In fact, it showed some signs of recovery in mid-April this year.

To be honest, the entire NFTs transaction activity climbed back to the top with $37 billion in cryptocurrency send to NFT marketplaces as of May 2022. This is very close to that last year’s total of $40 billion sent in 2021 for the same period. With Polygon NFT Marketplace you can create your own custom marketplace for trading NFTs.

Considering that 2021 was the biggest time for NFTs and many new projects and investors were introduced to the market, this year’s numbers are actually very good.

This suggests that the NFT industry is still very hot and the trend will continue until the end of the year. The most surprising thing about NFTs is the market volume trading activity, especially in times like these where crypto and stocks are reaching all-time-lows in the eyes of recession.

Another thing to point out which showcases people’s interest in the NFT marketplace is the number of unique cryptocurrency wallets, which represent users that are making transactions (either buying or selling an NFT).

If we look at the first quarter of 2022, we can see that there are around 950,000 unique cryptocurrency wallet addresses, which is up from the 627,000 we had in the fourth quarter of 2021.

With that said it is also important to mention that not all unique wallet addresses suggest more people. There is a lot of wash trading this year (when the same person is on both sides of a transaction) which is an activity where people create artificially high value for an asset.

However, there is definitely a good number of new users participating in the NFT space, which suggests that it is still a hot market.

Popular Projects this Year

In order to see how the market has reached these incredible numbers, which are almost identical to last year, we have to look at some of the individual projects that acquired the most volume.

This big spike in activity was largely due to popular NFT projects like Moonbirds, which is a collection of 10,000 pixelated owls that pulled in over $500 million in sales volume, as well as Otherdeeds, the Bored Ape Yacht Club metaverse land NFTs, that reached more than $700 million in trading volume.