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Financial Effects of Medibank Data Breach May Reach $80M

🇦🇺 Edwin Kwan, Sydney, Australia ↗

The 2022 data breach of Medibank is set to cost the health insurer $35 million in 2024. The data breach had cost them $46.4 million in the 2022 to 2023 financial year. They forecast that the total cost by next year could pass $80 million.

Poland Railway Disrupted by $30 Hack

🇺🇸 Hillary Coover, Washington, DC ↗

Could a $30 radio hack bring a nation's railway system to a standstill? Saboteurs disrupted Poland's railway system by using a basic "radio-stop" command that could be transmitted with inexpensive equipment- costing around $30.

Cloud Account Takeovers on the Rise

🇺🇸 Katy Craig, San Diego, California ↗

 Cloud account takeover incidents have witnessed a sharp rise in recent times, The past six months have seen an astonishing 100% surge in successful breaches. Paradoxically, despite the widespread adoption of MFA by organizations, instances of account takeovers have risen significantly. It's startling that nearly 35% of compromised users had MFA enabled.

This Day, August 27 and 28, in Tech History

🇺🇸 Marcel Brown, St. Louis, Missouri ↗

August 27th, 2003. The city of Fairbanks, Alaska connected to what was at the time the world's largest battery backup. Designed to help prevent serious blackouts that plagued the city every two to three years, it was reported that in the first two years of operation, the battery system prevented at least 81 power failures.

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 From Sourced Network Productions in Washington, DC., It's 5:05. I'm Hillary Coover. Today is Monday, August 28th, 2023. Here's the full story behind today's cybersecurity and open source headlines...