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
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.