Cybercrime on the Rise: Info-Stealer Malware and the Dark Web
In 2024, the landscape of cybercrime has become increasingly easier for hackers to navigate, thanks in part to the rise of info-stealer malware. This type of software collects login credentials, allowing hackers to bypass traditional vulnerabilities and log in to target networks with ease.
Instead of relying on sophisticated hacking techniques, hackers can now purchase stolen credentials on the dark web, making it a convenient option for those looking to gain unauthorized access to sensitive information.
According to IBM’s 2024 X-Force Intelligence report, there has been a significant increase in the use of info-stealer malware. The report notes that the "relative ease of acquiring credentials" is a major concern for organizations, particularly in light of recent high-profile incidents such as the Snowflake breach earlier this year.
The Rise of Info-Stealing Malware
In 2023, there was a significant spike in the use of info-stealer malware, with a reported 266% increase over the previous year. This type of malware is designed to collect login credentials from users’ devices, which can then be sold or traded on the dark web.
The Snowflake breach, which occurred earlier this year, is a prime example of how easily hackers can use stolen credentials to gain access to sensitive information. In that incident, hackers used info-stealer malware to obtain login credentials for several high-profile organizations, allowing them to bypass traditional security measures and access restricted data.
Flare’s Solution: Account and Session Takeover Prevention
In response to the growing threat of info-stealing malware, Montreal-based startup Flare has developed a new feature designed to prevent account and session takeovers. The company’s Account and Session Takeover Prevention feature uses machine learning algorithms to detect signs that a user’s login credentials are being compromised on the dark web.
If suspicious activity is detected, the feature automatically resets the impacted passwords before the hackers can gain access to sensitive information. This service also monitors for stolen session cookies, which can be used by hackers to trick computers into thinking they are previously authenticated users.
Flare’s Unique Approach
Flare’s approach to threat detection is unique in that it doesn’t rely on traditional methods of monitoring dark web sources. Instead, the company has developed a platform that watches for signs of activity on Telegram, a popular messaging app used by hackers to exchange information and coordinate attacks.
According to Flare CEO Norman Menz, the company’s platform has the largest repository of Telegram coverage compared to its competitors. This allows Flare to stay ahead of hackers and provide its customers with real-time threat intelligence.
Telegram and the Dark Web
In recent months, Telegram has made headlines due to the arrest of its founder, Pavel Durov, who was charged with running a company complicit in distributing child sexual abuse material and facilitating drug trafficking and organized fraud. Despite this controversy, downloads of the messaging app spiked after his highly publicized arrest.
Flare’s focus on monitoring Telegram activity is just one example of how the company is using its unique approach to stay ahead of hackers. By monitoring dark web sources and tracking hacker communication on platforms like Telegram, Flare is able to provide its customers with unparalleled threat intelligence.
Recent Funding and Growth
In light of its recent funding round, which saw the company raise $30 million in Series B financing led by Base10 Partners Jason Kong, Flare has announced a significant increase in valuation. While the exact figure was not disclosed, Menz did confirm that it was a 5.6-times increase over its previous Series A.
This growth is a testament to Flare’s innovative approach to threat detection and its commitment to providing customers with real-time threat intelligence. With a user base of around 250 customers in over 40 countries, Flare is well-positioned to become a leader in the threat detection space.
Competitors and Market Trends
Flare faces significant competition from established players in the threat intelligence market, including IBM and Palo Alto Networks. However, the company’s unique approach and focus on monitoring dark web sources set it apart from its competitors.
In recent months, there has been a growing trend towards using machine learning algorithms to detect and prevent cyber threats. This is reflected in Flare’s use of AI-powered technology to monitor for signs of activity on Telegram and other dark web sources.
Conclusion
The rise of info-stealer malware and the dark web presents a significant threat to organizations worldwide. However, companies like Flare are working to stay ahead of hackers by developing innovative solutions that provide real-time threat intelligence.
With its unique approach to monitoring dark web sources and tracking hacker communication on platforms like Telegram, Flare is well-positioned to become a leader in the threat detection space. As the landscape of cybercrime continues to evolve, it’s clear that companies like Flare will play a critical role in protecting organizations from emerging threats.
