NEW YORK, Dec. 30, 2020 /PRNewswire/ -- Nowadays, an extensive layer of cybersafety is often required for business infrastructure or government agencies in order to protect sensitive information and consumer data. In fact, the global cyber security market size overall was valued at USD 156.5 Billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 10.0% from 2020 to 2027, according to data by Grand View Research. Currently, though, the latest Russian hack, which is being called the largest act of espionage in U.S. history, is being analyzed by experts and cybersecurity firms to determine the magnitude of the threat. According to a report by the Associated Press, the hack compromised federal agencies and "critical infrastructure" in a sophisticated attack that was hard to detect and will be difficult to undo, the Cybersecurity and Infrastructure Security Agency said in an unusual warning message. The nation's cybersecurity agency also warned of a "grave" risk to government and private networks. Plurilock Security Inc. (TSX-V: PLUR) (OTC: PLCKF), Qualys, Inc. (NASDAQ: QLYS), CyberArk Software Ltd. (NASDAQ: CYBR), Absolute Software Corporation (NASDAQ: ABST), Fortinet, Inc. (NASDAQ: FTNT)
Several tech companies, including Microsoft, have also commented on the hack, with the technology conglomerate explaining in a blogpost that "it's critical that we step back and assess the significance of these attacks in their full context. This is not 'espionage as usual,' even in the digital age. Instead, it represents an act of recklessness that created a serious technological vulnerability for the United States and the world. In effect, this is not just an attack on specific targets, but on the trust and reliability of the world's critical infrastructure in order to advance one nation's intelligence agency." read more here