“Truthfully, the United States is under attack.”
That is Director of national intelligence Dan Coats’ evaluation into the Senate Intelligence Committee a month.
Based on Coats, we’re under threat of cyberattack from not only Russia and China, but Iran and North Korea, too.
Russia would like to subvert our democracy and endanger our society. A feeble and broken competitor is easier to take care of.
China’s not far behind, with committed cyberwarfare army units along with a thirst for gaining access into the United States’ deepest army technologies… and with no compunction about also penetrating corporate websites and stealing trade secrets.
North Korea, together with sanctions, needs cash. It’s turned into cryptocurrency heists to help make up the gap. Last year’s WannaCry attack — started with malware designed to ransom computer statistics in exchange for bitcoins — was probably an North Korean cyber op.
Mining represents a target for cyberattacks. Adding malicious code which can harvest cryptocash from clock cycles can be a way for cyberattackers to capture a instant payday from penetrating your PC.
Our allies are under the gun. British Parliament was exposed to some supposed Russian email cyberattack late each year. This week, Germany’s international ministry computers came under a sustained attack.
However, nation-state actors are not the only matter Coats is worried about.
Terrorists, criminal organizations and single wolf cybercriminals are entirely posing huge dangers to our economy — one that is heavily reliant on IT infrastructure and protected data.
As artificial intelligence, cloud computing systems, internet of things as well as other technologies grow, we’re only likely to become more reliant.
And that means more vulnerable.
Last week, internet hosting firm GitHub got hit with what is being called the biggest dispersed denial-of-service (DDoS) attack ever.
Flooding GitHub from several sources of junk traffic, the cyberattackers employed a new system to enhance the amount of bandwidth that is wasted. The amount of bandwidth has been huge.
The reason remains unclear, however.
GitHub’s no stranger to cyberattacks. In 2015, it supposed China attacked the company over hosting software designed to go around the nation’s internet censors.
GitHub was able to recover fast, thanks to switching over to some third party content delivery system to handle traffic.
However, the company is looking into better automatic interventions — including allowing DDoS mitigation suppliers.
And they are not the only ones looking to stay one step ahead of hackers.
It is a target-rich environment for cybersecurity stocks, that can be outperforming thanks for the “digital cold war”
Require Cisco Systems (NASDAQ: CSCO), for example. Over the past month that the company’s shares have risen from $38.78 to $43.73 as of early this morning.
But they are not the only cybersecurity inventory on this rise. The whole business is seeing benefits.
Take for instance the Very First Trust Nasdaq Cybersecurity ETF (NASDAQ: CIBR). The basket of high tech cybersecurity and relevant tech stocks is soaring right now.
Take a Look at the one-month chart below:
Bottom line is if you’re looking for fast gains in tech, you’ll want to strongly consider adding a couple of cybersecurity places for your own holdings.
For Technology Profits Daily
Chief Technology Expert, Technology Profits Daily