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Managed Security Services Provider (MSSP) Market News: 19 July 2023

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

  • The Content: Written for MSSPs and MSPs; threat hunters security operations center as a service (SOCaaS), managed detection and response (MDR) and eXtended detection and response (XDR) providers; and those who partner with such companies.
  • Frequency and Format: Every business morning. Typically, one or two sentences for each item below.
  • Reaching Our Inbox: Send news, tips and rumors to Managing Editor Jim Masters: [email protected].

Today’s MSSP, MSP, MDR, XDR and Cybersecurity Market News

1. Security Partnership: Blackpoint Cyber has announced its commitment to partnering with Microsoft to fight against the ever-evolving cyber threat landscape. Accordingly, Blackpoint has enhanced the intelligent detection logic for its Cloud Response product. This enhancement increases protection against evolving cyber threats, further equipping and safeguarding businesses who rely on Microsoft security for cloud and hybrid environments, the company said.

2. Product Launch: Bitwarden, a provider of enterprise credential management, is planning the release of a new single sign-on (SSO) offering that brings convenience and security to enterprise users, regardless of identity provider. The new solution gives employees the option to access their business applications through a trusted device, foregoing the need for usernames and passwords, the company said.

3. Product Launch: Titaniam, a data security platform provider, has expanded its product offerings with the launch of a new generative AI (GenAI) governance suite. These solutions address critical customer needs as GenAI adoption continues to increase, the company said.

4. Product Launch: Veeam Software, a specialist in data protection and ransomware recovery, is integrating Veeam Backup for Microsoft 365 with newly launched Microsoft 365 Backup via their backup APIs. Veeam plans to deliver new innovations and experiences to Microsoft customers that need data protection and ransomware recovery.

5. Ransomware Alert: Sophos is being impersonated by a new ransomware-as-a-service called SophosEncrypt, with the threat actors using the company name for their operation. The ransomware was initially thought to be part of a red team exercise by Sophos. However, the Sophos X-Ops team tweeted that they did not create the encryptor and that they are investigating its launch. (Source: Bleeping Computer)

6. Malware Discovery: A financially motivated cybercrime gang has been observed deploying BlackCat ransomware payloads on networks backdoored using a revamped Sardonic malware version. Tracked as FIN8 (aka Syssphinx), this threat actor has been actively operating since at least January 2016, focusing on targeting industries, such as retail, restaurants, hospitality, healthcare and entertainment. (Source: Bleeping Computer)

7. Product Launch: LimaCharlie is unveiling its Security Operations (SecOps) Cloud Platform, a vendor-neutral architecture built for security teams to develop effective infrastructure for their organization. The LimaCharlie SecOps Cloud Platform provides comprehensive enterprise protection by bringing together critical cybersecurity capabilities, eliminating integration challenges and security gaps for more effective protection against today’s threats.

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Jim Masters

Jim Masters is Managing Editor of MSSP Alert, and holds a B.A. degree in Journalism from Northern Illinois University. His career has spanned governmental and investigative reporting for daily newspapers in the Northwest Indiana Region and 16 years in a global internal communications role for a Fortune 500 professional services company. Additionally, he is co-owner of the Lake County Corn Dogs minor league baseball franchise, located in Crown Point, Indiana. In his spare time, he enjoys writing and recording his own music, oil painting, biking, volleyball, golf and cheering on the Corn Dogs.