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The (Nation) State of Cyber: 64% of Businesses Suspect They’ve Been Targeted or Impacted by Nation-State Attacks

The (Nation) State of Cyber: 64% of Businesses Suspect They’ve Been Targeted or Impacted by Nation-State Attacks

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August 24, 2022 | Shelley Boose

Venafi, the inventor and leading provider of machine identity management, today announced the findings of new research that evaluates the security impact of the increasing number of nation-state attacks and recent shifts in geopolitics. The survey of over 1,100 security decision makers (SDMs) globally found that 66% of organizations have changed their cybersecurity strategy as a direct response to the conflict between Russia and Ukraine, while nearly two-thirds (64%) suspect their organization has been either directly targeted or impacted by a nation-state cyberattack.

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82% believe geopolitics and cybersecurity are intrinsically linked

Other key findings from the research include:

  • 77% believe we're in a perpetual state of cyberwar
  • 82% believe geopolitics and cybersecurity are intrinsically linked
  • More than two-thirds (68%) have had more conversations with their board and senior management in response to the Russia/Ukraine conflict
  • 63% doubt they’d ever know if their organization was hacked by a nation-state
  • 64% think the threat of physical war is a greater concern in their country than cyberwar

“Cyberwar is here. It doesn’t look like the way some people may have imagined but security professionals understand that any business can be damaged by nation-states,” said Kevin Bocek, vice president, security strategy and threat intelligence at Venafi.

Bocek continued. “The reality is that geopolitics and kinetic warfare now must inform cybersecurity strategy. We’ve known for years that state-backed APT [Advanced Persistent Threat] groups are using cybercrime to advance their nations’ wider political and economic goals. Everyone is a target and, unlike a kinetic warfare attack, only you can defend your business against nation-state cyberattacks. There is no cyber-Iron Dome or cyber-NORAD. Every CEO and board must recognize that cybersecurity is one of the top three business risks for everyone, regardless of industry,” Bocek said.

Use of machine identities by threat actors

Venafi research into the methods used by nation-state threat actors shows the use of machine identities is growing in state-sponsored cyberattacks. The digital certificates and cryptographic keys that serve as machine identities are the foundations of security for all secure digital transactions. Machine identities are used by everything from physical devices and software to containers in order to authenticate and communicate securely.

Venafi research has also found that Chinese APT groups are conducting cyber-espionage to advance China’s international intelligence, while North Korean groups are funneling the proceeds of cybercrime directly to their country’s weapons programs. The SolarWinds attack — which compromised thousands of companies by exploiting machine identities to create backdoors and gain trusted access to key assets — is a prime example of the scale and scope of nation-state attacks that leverage compromised machine identities. Russia’s recent HermeticWiper attack, which breached numerous Ukrainian entities just days before Russia’s invasion of the country, used code signing to authenticate malware in a recent example of machine identity abuse by nation-state actors.

The only way to reduce risks of machine identity abuse is through a control plane that provides observability, governance, and reliability. 

Nation-state attacks use techniques not seen before

“Nation-state attacks are highly sophisticated and they often use techniques that haven’t been seen before. This makes them extremely difficult to defend against if protections aren’t in place before they happen,” continued Bocek. “Because machine identities are regularly used as part of the kill chain in nation-state attacks, every organization needs to step up their game. Exploiting machine identities is becoming the modus operandi for nation-state attackers.”

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About the research

Conducted by Sapio in July 2022, Venafi’s study evaluated the opinions of 1,101 security decision makers across the United States, United Kingdom, France, Germany, Benelux (Belgium, Netherlands, Luxembourg) and Australia.

About Venafi

Venafi is the cybersecurity market leader in machine identity management. From the ground to the cloud, Venafi solutions manage and protect identities for all types of machines—from physical and IoT devices to software applications, APIs and containers. Venafi provides global visibility, lifecycle automation and actionable intelligence for all machine identity types and the security and reliability risks associated with them.

Jetstack, a Venafi company, is a cloud native products and strategic consulting company working with enterprises using Kubernetes and OpenShift.

An open source pioneer, Jetstack has achieved notable industry recognition as the creator of cert-manager, the open source industry standard for cloud native machine identity management. Jetstack’s open source products and solutions protect the application environments and platform infrastructure of global banks, multinational retailing companies and defense organizations by providing enterprise platform and security teams the power to build, scale and security their cloud infrastructure.

With more than 30 patents, Venafi delivers innovative machine identity management solutions for the world's most demanding, security-conscious organizations and government agencies, including the top five U.S. health insurers; the top five U.S. airlines; the top four credit card issuers; three out of the four top accounting and consulting firms; four of the five top U.S. retailers; and the top four banks in each of the following countries: the U.S., the U.K., Australia and South Africa.

For more information visit www.venafi.com and www.jetstack.io

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About the author

Shelley Boose
Shelley Boose

Shelley is Director of PR and Content Marketing at Venafi. In her own words, "I help companies translate complex technologies into engaging and compelling, digital stories."

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