Managed Security Services Provider (MSSP) Market News: 20 January 2023

Each business day, MSSP Alert delivers this quick lineup of news, analysis and chatter from across the managed security services provider ecosystem.

A. Today’s MSSP, MDR, XDR and Cybersecurity Market News

1. Company Milestone: Quzara has achieved Microsoft verified Managed Extended Detection and Response (MXDR) solution status. Quzara has effectively proven their MXDR services (Cybertorch), which includes a security operation center (SOC) with 24/7/365 proactive hunting, monitoring and response capabilities all built on tight integrations with the Microsoft Security platform.

2. Leadership Moves: Invicti Security has named Matthew Sciberras as vice president of Information Security and chief information security officer (CISO), and promoted Mike Mattos to chief customer officer. Invicti also recently Gerhard Watzinger as Chairman of the Board.

3. Logically Names CEO: Logically, a managed IT and security service provider, has named Joshua Skeens as CEO. Skeens joined Logically in 2021 through the acquisition of MSSP Cerdant,

4. Industry Recognition: DefenseStorm, a cloud-based cybersecurity, cyber fraud and cyber compliance management provider to banks and credit unions, has achieved a three-year revenue growth of 251%. Consequently, DefenseStorm has been named to the Inc. 5000 list for the third consecutive time. Inc. 5000, a ranking of the fastest-growing private companies in America, is a key benchmark for entrepreneurial success, DeefenseStorm stated.

5. U.S. Air Force Seeking Input: The U.S. Air Force is seeking information from the defense industry for ways to keep its cyberspace operations system relevant, opening the possibility for a recompete on a sustainment contract currently held by Northrop Grumman. The Cyber Mission Platform, which was developed by Northrop beginning in 2014, is a comprehensive system for offensive cyber operations and mission planning, generation and execution. (Source: Inside Defense)

6. Cyber Ransoms Decline: Cyber-crime gangs have experienced a 40% drop in earnings as victims are refusing to pay ransoms, researchers say. Cryptocurrency experts at Chainalysis say ransomware groups extorted at least $457 million from victims in 2022, $311 million less than the year before. (Source: BBC News)

7. Mailchimp Hacked: Mailchimp reported 133 customer accounts were accessed during a social-engineering attack on January 11 against company employees and contractors, the company said in a blog post. Mailchimp temporarily suspended accounts where it saw suspicious activity and notified the primary contacts on the customer accounts on January 12. (Source: Cybersecurity Dive)

8. PayPal Breach Reported: The Social Security numbers and other personal information of about 35,000 PayPal users were stolen in a December credential-stuffing attack, the company said in a regulatory filing. Also, usernames, addresses, dates of birth and individual tax identification numbers may have been compromised. (Source: CNET)

9. T-Mobile Data Breach Reported: U.S. wireless carrier T-Mobile said on January 19 it was investigating a data breach that may have exposed 37 million accounts and hinted at incurring significant costs related to the incident. It's the company's second major cyberattack in less than two years and comes months after the carrier agreed to upgrade its data security to settle litigation related to a 2021 incident that compromised information of an estimated 76.6 million people. (Source: Reuters)

10. Redacted Promotes Cyber Vet: Redacted has promoted Adam Flatley to vice president of Intelligence. Flatley will lead the Redacted Intelligence Cell, recently renamed

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