A New Era in Cybersecurity Threats: OpenText Cybersecurity’s 2024 Threat Hunter Perspective Unveils Nation-State Collaboration with Cybercrime Rings
As we enter 2024, the threat landscape in cybersecurity has evolved significantly, becoming more intricate and dangerous. The latest research by OpenText Cybersecurity, titled The 2024 Threat Hunter Perspective, presents a troubling yet insightful look into how nation-states and cybercrime rings are increasingly collaborating to inflict damage on global supply chains, further geopolitical goals, and expand their influence in cyberspace. This unprecedented cooperation marks a paradigm shift in the way cyberattacks are conceived, executed, and coordinated.
According to the report, adversaries are exploiting weak security fundamentals, often aided by a lack of robust countermeasures, making it easier to infiltrate organizations, governments, and critical infrastructure. The new form of hybrid threat, fueled by nation-state and cybercrime ring collaboration, demands a fresh and more strategic approach from Chief Information Security Officers (CISOs) and cybersecurity professionals worldwide.
The Changing Landscape of Cybercrime
The cyber threat landscape is no longer limited to independent hacking groups or lone attackers. Instead, it is characterized by well-organized cybercrime rings aligning with nation-states to attack with precision. This fusion of crime and geopolitics has given rise to more sophisticated, multi-pronged attacks targeting everything from financial institutions and healthcare systems to government agencies and supply chains.
As highlighted by The 2024 Threat Hunter Perspective, these collaborations are growing more sophisticated, often leveraging nation-state resources such as intelligence, technology, and even personnel. For CISOs, the big question isn’t whether cyberattacks will occur but what form they will take and how prepared they are to combat these evolving threats.
The financial cost of this growing cyber menace is staggering. According to Cybersecurity Ventures, cybercrime’s cost globally is projected to reach $9.5 trillion in 2024, with an expected surge to $10.5 trillion by 2025. This represents a significant jump from prior years, highlighting the increasing severity and scale of attacks. Organizations need to stay vigilant, keeping abreast of the nature of these threats, understanding who is behind them, when they are most likely to occur, and how attackers execute their strategies. This intelligence is crucial for building defenses that can mitigate these risks.
Nation-State and Cybercrime Ring Collaborations
The hallmark of today’s cyber threat landscape is the alignment between nation-states and cybercrime rings. The 2024 Threat Hunter Perspective provides a sobering look at how organized crime syndicates are joining forces with nation-state actors. In some cases, these two groups might be directly coordinating their efforts, but even in indirect collaborations, they are attacking the same targets at the same time, multiplying the damage inflicted.
Russia, for instance, has been particularly active in partnering with malware-as-a-service (MaaS) groups. These collaborations have been seen with groups such as Killnet, Lokibot, Ponyloader, and Amadey. These cybercrime gangs act as a force multiplier, extending the reach and effectiveness of nation-state cyber operations. Killnet, in particular, is notorious for its Distributed Denial of Service (DDoS) attacks, which can cripple organizations and institutions by overwhelming their servers with traffic.
Similarly, China has been observed forming relationships with groups like Storm0558, Red Relay, and Volt Typhoon. These cybercrime rings often support China’s geopolitical objectives, especially in sensitive areas like the South China Sea, where cyber operations can destabilize regional infrastructure or gather sensitive intelligence to bolster China’s strategic interests.
This confluence of nation-state resources and cybercrime ingenuity creates a potent and destructive force that can wreak havoc on a global scale. As cybercrime becomes more professionalized and organized, the risks for businesses, governments, and citizens rise exponentially.
Attack Strategies and Timing
The OpenText report also sheds light on the timing and methods behind these cyberattacks. One key insight is how attackers are often tuned in to specific events, such as national holidays or significant geopolitical moments. For instance, Russian cyber operations frequently spike in response to military aid announcements related to Ukraine, with activity intensifying within 48 hours of the news.
Moreover, attackers have become adept at targeting critical points in the supply chain to achieve their broader goals. For example, cyberattacks on ports or transportation networks can disrupt military aid shipments, thereby indirectly affecting geopolitical outcomes. The fallout from such disruptions can have far-reaching consequences, impacting not only military operations but also commercial industries reliant on the smooth functioning of global supply chains.
One of the unique aspects of Chinese cyber operations is their use of “data exfiltration by stealth.” While Russian cyberattacks tend to follow a Monday-to-Friday workweek schedule, Chinese attacks are more sporadic and strategic. Typically, China prefers to exfiltrate data during periods when it’s less likely to be noticed—such as Friday afternoons or Saturdays. Attackers break the data into smaller chunks, reducing the chance of detection and making it easier to go unnoticed until the damage has been done.
Adversarial Techniques: Misdirection, Masquerading, and Exploiting Weak Security
In today’s increasingly hostile cyber environment, adversaries are continually honing their ability to evade detection. One of the most effective strategies is misdirection. By attacking through multiple vectors, adversaries force defenders to spread their resources thin. Misdirection also involves using multiple layers of obfuscation to confuse and frustrate investigators trying to identify the perpetrators.
Another common tactic is masquerading—using legitimate software tools, like Cobalt Strike, a penetration testing tool, to cover malicious activities. Cobalt Strike has become a favorite among Advanced Persistent Threat (APT) groups because it provides a credible cover for activities that might otherwise raise red flags. As a result, cybersecurity teams often struggle to distinguish between legitimate penetration testing and malicious behavior.
Furthermore, the report indicates that weak security fundamentals are a major vulnerability. In many cases, organizations still fail to implement basic security countermeasures, such as timely software patches, two-factor authentication, and comprehensive employee training. These gaps in security create a fertile ground for attackers, allowing them to infiltrate systems with relative ease.
This problem is exacerbated in nations with underdeveloped cyber defenses. Countries like the Democratic Republic of Congo, Argentina, Iran, Nigeria, Sudan, Venezuela, and Zimbabwe are highlighted as regions with weaker cybersecurity infrastructures, making them prime targets for cyberattacks. As cybercrime becomes a global issue, no nation can afford to lag behind in its defenses.
Implications for the Global Supply Chain
One of the most worrying trends highlighted by OpenText Cybersecurity’s report is the increased targeting of global supply chains. By attacking critical nodes in the supply chain—such as transportation hubs, factories, or shipping routes—adversaries can cause widespread disruptions. These attacks can have cascading effects, not only delaying shipments and disrupting business operations but also jeopardizing global economic stability.
In today’s interconnected world, supply chain disruptions can affect everything from food security to access to essential goods like medicine and medical equipment. This makes supply chains an attractive target for both cybercrime rings and nation-state actors, as the consequences of a successful attack can be both immediate and far-reaching.
Conclusion: A Call to Arms for CISOs
The findings of the 2024 Threat Hunter Perspective serve as a stark reminder that the cybersecurity landscape is growing increasingly dangerous and complex. As cybercrime rings and nation-states continue to collaborate, the need for robust cybersecurity strategies has never been more critical.
For CISOs, this means a multi-layered approach to security is essential. Threat intelligence, adversarial signals, and defense capabilities must be integrated to create a cohesive defense strategy. As the threat of large-scale, coordinated attacks grows, every organization needs to prepare for the worst and stay ahead of the curve.
Cybersecurity is no longer just about prevention; it’s about resilience and adaptability in the face of constant threats. The collaboration between nation-states and cybercrime rings is a harbinger of more sophisticated, destructive cyberattacks in the future. Therefore, businesses and governments alike must remain vigilant, fortifying their defenses against an enemy that’s constantly evolving.
About OpenText Cybersecurity
OpenText Cybersecurity offers comprehensive solutions designed to safeguard organizations against evolving cyber threats. Their end-to-end platform enables companies to build resilience and manage business risks effectively, leveraging real-time insights and advanced threat intelligence to prevent, detect, and mitigate cyberattacks.
In an era where the stakes have never been higher, organizations must take every possible measure to protect their digital assets, supply chains, and critical infrastructure. The collaboration between nation-states and cybercrime rings is just the latest chapter in the ongoing battle for control of the digital realm—and the consequences of inaction could be devastating.
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