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Cyberwarfare: An Outage of a Major Cloud Service Provider Due to Cyberattacks Could be as Damaging as Hurricane Katrina
Hacking and cyberattacks are growing in their frequency and intensity. They have also become increasingly more sophisticated in how they target their victims.
South Carolina reports that on election day 2016 that the state’s voter registration system was hit by more than 150,000 cyber attack attempts, most of which are believed to have been coordinated by Russia. Director of National Intelligence James Clapper said that “the Russian cyber threat is more severe than we have previously assessed,” and Christopher Ahlberg, CEO of Recorded Future, said that the current climate and level of cyberattacks has become “crazy”.
Lloyd’s of London predicts that our reliance on massively centralized cloud computing can have potential catastrophic consequences. A cyberattack that takes down a major cloud provider could deal as much monetary damage as what was experienced by Hurricane Katrina, roughly $120 billion. Lloyd’s should be well aware of the pain that could cause, having suffered nearly £3 billion of losses from Hurricane Katrina in 2005. Lloyd’s was also hit by a crippling cyberattack that lasted two days at the beginning of 2017.
Milena Rodban, a geopolitical consultant was interviewed by the Wall Street Journal, and said that large businesses can accumulate massive amounts of information that could be potentially leveraged in a cyberwar. “The information that Amazon is holding — for example, data from financial institutions and government agencies — could give someone a clear path into something really terrible that could upset national security.”