A prediction has been made that the entire internet system could shut down for 24 hours, causing huge financial loses to markets.
The prediction, which was made by US technology security vendor LogRhythm in December, will mean that millions of technology users will be blocked from using the internet, which could severely affect those in the financial markets.
James Carder, the company’s chief information security officer and vice president, told the Business Insider: “In 2017, we’re going to see it hit big sometime, somewhere. If the internet goes down, financial markets will tank.” He even claimed that during 2016 there were signs with criminals “testing missiles by shooting them into the ocean.”
“We saw the massive DDoS [distributed denial of service] attack against DynDNS just a couple of months ago. That DDoS attack took down sites like Twitter and Spotify for a few hours. We saw a similar DDoS hit Brian Krebs before the attack against Dyn. These were really just tests,” he said.
In October last year, a similar cyber-attack occurred, hindering some of the biggest websites, leaving millions of users unable to access websites such as Twitter, SoundCloud and Spotify for over two hours.
Carder further commented, “If you can prove that you can take down massive sites and a large chunk of the US internet for a few hours, a 24-hour outage seems pretty easy to do?”
Claims have also been made that despite coverage of “fake news” sites and stories, it is only going to get worse this year, as hackers are targeting major media sites.
Carder commented that, “the power of influence is starting to shift away from mainstream news outlets, and I don’t think that is something those mainstream outlets can afford to let happen. They will respond to the fake news threat by trying to implement some level of media control that will likely take it a little too far”.
Also suggesting that hackers will retaliate towards this by targeting major media outlets even more, in an attempt to protect the freedom of speech.
LogRhythm’s Australia and New Zealand director of sales, Simon Howe, has also made a prediction that attackers will target unaware smartphone users, and take their personal data held on their phones and hold it hostage in order to extort money.
He said, “For example, attackers will threaten to send out or delete a user’s photos unless a ransom is paid. Just think — how much you would pay to recover your photos?”
IMAGE CREDIT:alexskopje / 123RF Stock Photo
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