Resources

Press Releases

In Just One Evil Internet Minute Over Two Phish Are Detected And $2.9 Million Is Lost To Cybercrime, Reveals RiskIQ

July 24, 2019

SAN FRANCISCO – July 24th, 2019RiskIQ, the global leader in attack surface management, released its annual “Evil Internet Minute” report today. The company tapped proprietary global intelligence and third-party research to analyze the volume of malicious activity on the internet, revealing that cybercriminals cost the global economy $2.9 million every minute last year, a total of $1.5 trillion.

The data shows that in a single internet minute, $2,900,000 is lost to cybercrime. Top companies pay $25 per minute due to security breaches. Additional malicious activity includes:

  • $1,930: the cost of hacks on cryptocurrency exchanges every minute
  • $17,700: lost from phishing attacks per minute
  • $22,184: the projected by-the-minute cost of global ransomware events in 2019
  • 8,100: identifier records compromised every minute
  • 7: malicious redirectors detected each minute
  • 2.4: phish traversing the internet per minute
  • 0.32: blacklisted apps by-the-minute
  • 0.21: Magecart attacks detected every minute

“As the scale of the internet continues to proliferate, so does the threat landscape,” said Lou Manousos, CEO of RiskIQ. “By compiling the vast numbers associated with cybercrime in the past year, we made the research more accessible by framing it in the context of an ‘internet minute.’ We are entering our third year defining the sheer scale of attacks that take place across the internet using the latest third-party research and our own global threat intelligence so that businesses can better understand what they’re up against on the open web.”

Tactics range from malvertising to phishing to supply chain attacks that target e-commerce, like the Magecart hacks that have increased by 20% in the last year. The motives of cybercriminals include monetary gain, large-scale reputational damage, political motivations, and espionage.

“Without greater awareness and an increased effort to implement necessary security controls, there will be more attacks using an ever-expanding range of technologies and strategies,” Manousos said. “With the recent explosion of web and browser-based threats, organizations should look to what can happen in a matter of minutes and evaluate their current security strategy. Businesses must realize that they are vulnerable beyond the firewall, all the way across the open internet.”

RiskIQ’s Evil Internet Minute infographic can be found here: https://www.riskiq.com/infographic/evil-internet-minute-2019/

About RiskIQ
RiskIQ is the leader in attack surface management, providing the most comprehensive discovery, intelligence, and mitigation of threats associated with an organization’s digital presence. With more than 75 percent of attacks originating outside the firewall, RiskIQ allows enterprises to gain unified insight and control over web, social and mobile exposures. Trusted by thousands of security analysts, RiskIQ’s platform combines advanced internet data reconnaissance and analytics to expedite investigations, understand digital attack surfaces, assess risk and take action to protect the business, brand and customers. Based in San Francisco, the company is backed by Summit Partners, Battery Ventures, Georgian Partners and MassMutual Ventures.

Visit https://www.riskiq.com or follow us on Twitter. Try RiskIQ Community Edition for free by visiting https://www.riskiq.com/community/

© 2019 RiskIQ, Inc. All rights reserved. RiskIQ is a registered trademark of RiskIQ, Inc. in the United States and other countries. All other trademarks contained herein are the property of their respective owners.

Contact

Holly Hitchcock
Front Lines Media
805-801-9798
Holly@FrontLines.io