SEC 573 – E-Business Security - 60048-1
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DeVry University, Chicago *
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573
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Information Systems
Date
Dec 6, 2023
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docx
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Kingsley Osei Owusu
SEC 573 – E-Business Security - 60048
November 2023
Week 3 Project
Research a recent threat (discovered within the last 36 months) to the security of
an e-business operation. Define and describe the threat, including its discovery,
history, impact on e-business operations, technical features, and risks. This
deliverable is due in Week 3.
Remember that this threat must be related to e-business, which, with very few
exceptions, is now a web-based operation. Focus on “what happened” and “why,
or how, did it happen”. Consider using the classic journalistic style of
presentation: who, what, when, where why and how.
Threat - Boeing Ransomware Attack from the LockBit Ransomware Group
The threat I have chosen to research and analyze is one that most cyber experts are most
familiar with. With regards to this threat, attackers
encrypt the victim's data or locks them out of
their own systems and demands a ransom payment in exchange for a decryption key or to
restore access.
According to researchers, the attackers breached Boeing using a zero-day
exploit but have disclosed no further details as and when the attack happened.to futher
elaborate on this technique, a zero-day exploit/vulnerability refers to a kind of security loophole
that cybercriminals discover and exploit before any patch or solution is released. These
vulnerabilities, like the Log4j vulnerability are particularly infamous and damaging because
attackers will usually take advantage of them before they are resolved.
LockBit gave Boeing
only six days to make contact, while typically victims are given ten days to reach out to
cybercriminals according to Cybernews.
Discovery
The incident involving the LockBit groups attack, on Boeing was likely identified when Boeings
internal cybersecurity team noticed network activity encrypted files or a ransom note.
The
cyber incident was claimed by the LockBit ransomware group on its dark leak site
October 27th, as first reported by Cybernews.
Additionally, it is possible that the attackers
themselves publicly disclosed the breach by uploading 50 gigabytes of data to LockBits dark
web blog.
History
LockBit is a known organization with a track record of targeting businesses for gain. Their
typical approach involves encrypting victims’ data and demanding ransom payments in
exchange for decryption keys. This group has been actively carrying out cyberattacks on
organizations worldwide.
Impact on E Business Operations
1
Kingsley Osei Owusu
SEC 573 – E-Business Security - 60048
November 2023
Week 3 Project
The attack on Boeing could have consequences for its e business operations.
Data Exposure - Sensitive information belonging to Boeing, such, as data, intellectual
property and potentially customer data may have been compromised.
Operational Disruption - The encryption of data can disrupt business operations
potentially leading to delays and financial losses.
Reputation Damage - The breach becoming knowledge could harm Boeings reputation
by affecting customer trust and partnerships.
Legal and Regulatory Consequences - Boeing may face regulatory repercussions that
include reporting the breach, potential fines, and investigations.
Technical Features
LockBit ransomware typically uses encryption techniques to lock files making them inaccessible.
The attackers then demand a ransom payment, in cryptocurrency. Provide decryption keys upon
receiving the payment. In this instance LockBit also exposed some of Boeings stolen data on
their web blog.
Risks
The LockBit ransomware attack on Boeing poses some specific risks. Some of these are and
may not be limited to;
Financial Losses - Boeing may face losses due to potential ransom payments costs associated
with incident response and efforts towards recovery.
Reputational Damage - The breach could harm Boeings reputation, impacting customer trust
and business relationships.
Legal and Regulatory Consequences - Failure to adequately protect data and promptly report
the breach may lead to actions and regulatory penalties for Boeing.
Operational Disruption - The attack has the potential to disrupt operations at Boeing leading to
operational challenges.
To minimize the impact of such an attack it is crucial for Boeing to respond promptly by involving
cybersecurity experts and collaborating closely with law enforcement agencies. This would
involve investigating the breach recovering encrypted data strengthening security measures and
implementing measures, against attacks.
Reference(s):
https://cybernews.com/news/boeing-confirms-cyber-attack-lockbit-ransom/
2
Kingsley Osei Owusu
SEC 573 – E-Business Security - 60048
November 2023
Week 3 Project
Hope, A. (2023, November 7). Boeing confirms cyber-attack after LockBit ransomware threatened to leak
data. CPO Magazine. https://www.cpomagazine.com/cyber-security/boeing-confirms-cyber-attack-after-
lockbit-ransomware-threatened-to-leak-data/#:~:text=American%20aviation%20and%20aerospace
%20giant%20Boeing%20is%20investigating,ransom%20or%20have%20its%20stolen%20data%20leaked
%20online.
3
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