Cybersecurity Crisis: Major Breaches and Ransom Payments Rock 2024
TechCrunch
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Contributed by: Drex DeFord
Summary
A roundup of key cybersecurity incidents in 2024 highlights critical events that have influenced digital security practices. AT&T’s $370,000 payout to a hacker to erase stolen records of nearly 110 million customers exposed significant weaknesses in corporate data management. Separately, an investigation revealed automakers’ data sharing with insurance firms was leading to higher premiums for consumers, triggering a congressional inquiry into privacy practices. Furthermore, Cencora, a drug distributor, made headlines for paying $75 million to prevent the release of sensitive data, marking the largest ransom payment recorded and demonstrating the rising financial stakes in ransomware incidents.
