Tag: Security

Zerologon bug is most severe experienced by Microsoft

Posted on by Jamie Harrison

News has emerged that Microsoft patched a startlingly severe bug called Zerologon that affected Windows Servers. Dutch security company Secura B.V. released a blog post detailing how the bug works by taking over the Netlogon authentication process on Windows Servers and effectively gives hackers admin rights to the network and allows them to:

• impersonate the identity of any computer on a network when trying to authenticate against the domain controller
• disable security features in the Netlogon authentication process
• change a computer’s password on the domain controller’s Active Directory (a database of all computers joined to a domain, and their passwords)

The bug was named Zerologon, as the attack is achieved by adding zero characters in certain Netlogon authentication parameters.

The attack cannot happen outside a network as the hacker must already be in the network to launch the attack, but it’s claimed once inside, the attacker can take over an entire corporate network in just three seconds.
“This attack has a huge impact,” the Secura team said. “It basically allows any attacker on the local network (such as a malicious insider or someone who simply plugged in a device to an on-premise network port) to completely compromise the Windows domain.”

The bug has been given a 10/10 severity rating and is also a boon for malware and ransomware hackers, who often rely on infecting one computer inside a company’s network and then spreading to multiple others. With Zerologon, this task has been considerably simplified.

While Microsoft released the patch last month, it’s said requires a further install to fully resolve the problem which will be available in February 2021.

Globalnet updates all our clients with Microsoft and software patches automatically, as they are released. In Microsoft’s case, this is every week during what is known as Patch Tuesday. We have run exhaustive tests across all the networks we manage and can reassure our clients that they are currently up to date and safe from any attack via Zerologon.

10% of Cryptocurrency ICOs Are Stolen

Posted on by Rob Burdett

A report by Ernst & Young has highlighted the fact that 10% of all funds raised through Initial Coin Offerings (ICOs) are stolen by hackers using techniques such as Phishing.

What Is An ICO?

An Initial Coin Offering (ICO) is a controversial way of start-up companies raising money / crowd funding to build new technology platforms or to fund businesses that use crypto currencies (also called tokens), and the underlying blockchain technology. The tokens only become functional units of currency if / when the ICO’s funding goal is met, and the project finally launches.

The controversy about ICOs centres around the fact that, although it is an innovative new source of venture funding, some commentators view ICO projects as unregulated securities that allow their founders to raise an unjustified amounts of capital, and that valuations of ICO tokens may be driven too much by the fear of missing out and, therefore, seem to result in investors rushing to put money into projects that ignore some important market fundamentals, such as project development.

$400 Million Stolen

After analysing more than 372 ICOs, Ernst & Young has reported that approximately $400 million of the total $3.7 billion funds raised to date has been stolen by hackers. The most widely used technique to steal the digital cryptocurrency funds was found to be Phishing, resulting in the theft of $1.5 million in ICO proceeds per month.

ICOs are an opportunity for scammers because they are able to take advantage of the promise of people making a huge return from a relatively low investment.

As well as scammers taking money, the study also found that underlying software code in some projects contains hidden investment terms that have not been disclosed, or that contradict previous disclosures e.g. saying there will be no further issuance of a cryptocurrency, while the code may leave that option open.

Challenges To Reaching Targets For ICOs

The Ernst & Young research shows that the volume of ICOs has been slowing since late 2017, with less than 25% reaching their target in November 2017, compared with 90% in June. Recent ICOs have faced challenges in reaching their targets, a drop in quality i.e. more low quality projects with higher fundraising goals are being presented, and issues from earlier projects are now being highlighted.

Crypto-based investment of choice is therefore waning, organizers and contributors are now facing increased regulatory scrutiny, and they are therefore now under more pressure to prove the longer-term potential of their product or service to an increasingly sceptical audience.

What Does This Mean For Your Business?

A drop in the value of popular cryptocurrency Bitcoin (its value has fallen 12% over 24 hours), added to warnings about investing in cryptocurrencies from the chairman of UBS and warnings by billionaire investor Warren Buffett (who said he would never invest in cryptocurrency), and news reports of scams such as a fake sale con for instant messenger service Telegram to unsuspecting would-be investors have all served as warnings about the risks of cryptocurrencies and of ICOs.

This latest Ernst & Young research has only served to cement that message to businesses and investors, and some commentators now think that ICOs could soon disappear altogether as a viable fundraising option, unless they can address the issue of security urgently and effectively.