2023’s Cybersecurity Wars: Credential Theft, Data Breaches, and the Financial Motivation Behind It All

2023’s Cybersecurity Wars: Credential Theft, Data Breaches, and the Financial Motivation Behind It All

IT Teams’ Thorny Romance with Credential Theft

Main Points:

  • As we cross midway into 2023, credential theft continues to frustrate IT teams.
  • Data’s value to cybercriminals and their evolving harmful techniques deepen the problem.
  • The 2023 Verizon Data Breach Investigations Report shows 83% of breaches involve external actors – mostly financially driven.

A Constant Pain in the Server: Credential Theft

In the tech world, credential theft is like that pesky popup – it just won’t cease and desist. We’ve made our way more than halfway through 2023, and it seems like these cyber bullies are only getting more aggressive. They’re like the schoolyard tough kids, yet their playground is our IT infrastructure, and instead of stealing lunch money, they’re after something even more valuable – data.

Data – An Attractive Lure for Cyber Pirates

Why this obsession with data, you ask? Well, just like Dad used to explain, “son, in the digital world, data is the new gold.” Cybercriminals know this all too well. While their tactics might evolve quicker than your dad’s jokes at Thanksgiving dinner, their end goal remains worryingly constant – to plunder data, the ultimate digital treasure chest.

Verizon DBIR Report 2023: The External Actor Majority and Financial Motive

According to the ’23 Verizon Data Breach Investigations Report, or DBIR for those who prefer tech-y acronyms, this cyber theft isn’t merely an inside job. Nope. The stats show 83% of breaches actually involve external actors – or as I like to call them, ‘the outsiders’. And guess what? These hacks are almost always financially motivated – talk about putting the ‘crime’ in ‘cybercrime’.


The year 2023 has been yet another cyber rollercoaster ride. The stubborn persistence of credential theft continues to thorn IT teams – are we surprised? Not really. The high value of data, coupled with the ever-evolving techniques by cyber miscreants, has sustained this trend. Verizon’s 2023 DBIR highlights the worrying role of external actors in breaches, accounting for a staggering 83% of the total. Likewise, the motivations remain financial – because why risk a cyber breach for anything less than the digital equivalent of a bullion vault? The war between IT teams and cyber pirates rages on, and it’s fair to say that this isn’t the least bit amusing – unlike dad’s jokes.

Original Article: https://thehackernews.com/2023/08/whats-state-of-credential-theft-in-2023.html


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