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Managed Security Services Provider (MSSP) Market News: 5 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. Business Expansion: Waterfall Security Solutions, an operational technology cybersecurity specialist, announced the opening of a new European headquarters in The Netherlands. This continued expansion of Waterfall's presence in Europe is in response to the strong increase in demand for Waterfall products throughout the EU, the company said.

2. Cyberattack on Japanese Port: The Port of Nagoya, Japan's largest port by total cargo, has suffered a cyberattack. The port in central Japan remained unable to load and unload containers from trailers. Police have launched an investigation, saying the operator has received a ransom demand in exchange for the recovery of its system. The system failure occurred Tuesday morning when an employee could not start a computer, according to Nagoya Port Authority. (Source: Nikkei Asia)

3. Cyber Summit Slated: BlackBerry Cybersecurity will host the BlackBerry Summit, on October 17.  The 10th anniversary event will be held live in New York. The summit will bring together visionaries from across the BlackBerry community, including technology innovators, leading enterprises and strategic partners.

4. Cyber Risk Assessment Offered: BlueSteel Cybersecurity, a cybersecurity consulting firm and risk assessment company, announced its initiative to provide comprehensive security risk assessments to organizations in the healthcare, government services, fintech, research and education sectors. Unlike a routine security check, these risk assessments provide deep insights into where their technology might be vulnerable, allowing for more proactive security measures, the company said.

5. M&A Deal Advancing: Global investment firm Carlyle is in exclusive negotiations to acquire Pr0ph3cy, a cybersecurity services business in France, from IK Partners' IK Small Cap III Fund. As part of the deal, Pr0ph3cy will rebrand as NEVERHACK. (Source: Private Equity Wire)

6. Hacker Alert: Law enforcement has detained a suspect believed to be a key member of the OPERA1ER cybercrime group, which has targeted mobile banking services and financial institutions in malware, phishing and business email compromise (BEC) campaigns. The gang, also known as NX$M$, DESKTOP Group and Common Raven, is suspected of having stolen between $11 million and $30 million over the last four years in more than 30 attacks spanning 15 countries across Africa, Asia and Latin America. The suspect was arrested by authorities in Côte d'Ivoire, Ivory Coast in early June following a joint law enforcement action dubbed Operation Nervone, with the help of AFRIPOL, Interpol's Cybercrime Directorate, cybersecurity company Group-IB and telecom carrier Orange. (Source: Bleeping Computer)

7. Ransomware Threat: A sophisticated stealer-as-a-ransomware threat dubbed RedEnergy has been spotted in the wild targeting energy utilities, oil, gas, telecom and machinery sectors in Brazil and the Philippines through their LinkedIn pages. The malware "possesses the ability to steal information from various browsers, enabling the exfiltration of sensitive data, while also incorporating different modules for carrying out ransomware activities," Zscaler researchers Shatak Jain and Gurkirat Singh said in a recent analysis. The goal, the researchers noted, is to couple data theft with encryption with the goal of inflicting maximum damage to the victims. (Source: The Hacker News)

8. Data Loss Guide Released: Hornetsecurity has launched its new Backup Bible, a complete guide to support businesses through all stages of preparing for, responding to, and recovering from a substantial data loss event. The Backup Bible features 150-plus pages of actionable content, divided into four core parts, including customizable templates enabling business owners to create their own personalized backup strategy. The online support document contains instructions and examples for building and maintaining a thorough data protection system, as well as discussion material on expanding recovery processes throughout the enterprise.

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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.