Why Vinod Khosla Got It Wrong about Cyber Crime?

In a recent piece in Forbes following the Anthem data-security breach, legendary venture capitalist Vinod Khosla wrote “There’s a universal truth regarding every cyber-attack: attack behavior never appears normal”.

While Mr. Khosla is a maverick in many fields I believe this time he got it wrong. Please allow me to explain.

Let’s consider a different example, the recent Carbanak cyber crime campaign, through which over 100 global banks were robbed of an estimated one billion dollars. The technology aspect of the attacks got the most media attention. However, in reality the technology was not nearly as advanced as state-of-the-art technology used by some intelligence agencies around the world (e.g. Stuxnet, Flame or the Equation Group). Read more

Ocean’s Eleven and the Changing Landscape of Cyber Crime

On February 16th, 2015, Kaspersky lab published a report titled “Carbanak APT – The Great Bank Robbery”, telling the story of a cyber attack campaign on numerous banks and financial institutions, spanning from late 2013, and resulting in an estimated cumulative losses of $1B. The attack has been dubbed by Media outlets such as CNN “the Ocean’s eleven of cyber strikes”. Read more