In early May, a cyberattack at Colonial Pipeline prompted chaotic gas shortages up and down the East Coast. This week, a similar hack wreaked havoc on the operations of JBS, one of the world’s largest meat processors. Both were examples of the rapidly growing trend of ransomware—virtual attacks where criminals hold a company’s systems hostage until a payoff is made, often in the untraceable form of bitcoin.
For corporations in every sector, these high-profile incidents have highlighted the ever-increasing need to make sure that digital infrastructure is properly protected from black-hat hackers.
“It is top of mind for every single company now,” said Ian Loring, a longtime executive at Bain Capital who’s now a managing partner at Crosspoint Capital Partners, a new firm that focuses on investments in the cybersecurity space. “There’s just a massive push in that direction by all corporations.”
Read more/Source: Forbes
