• BlackBerry (TSX:BB) reports a 70 per cent increase in new malware encountered by its AI-powered cybersecurity solutions
  • The company stated that amounts to 26 cyberattacks per minute, which highlights a diversification of tools and attacks by threat actors and as they target high-stakes or financially lucrative industries
  • Australia and the U.S. experienced more than 50 per cent more public sector attacks this quarter
  • BlackBerry stock last traded at C$5.06 per share

BlackBerry (TSX:BB) reports a 70 per cent increase in new malware encountered by its AI-powered cybersecurity solutions.

In its latest Quarterly Global Threat Intelligence Report, the company stated that amounts to 26 cyberattacks per minute, which highlights a diversification of tools and attacks by threat actors and as they target high-stakes or financially lucrative industries.

The financial sector was the most frequently attacked industry in this quarter, with healthcare institutions coming in second. High-value data and the opportunity to disrupt essential services make these sectors a prime target for impactful or profitable attacks.

Australia and the U.S. experienced more than 50 per cent more public sector attacks this quarter.

BlackBerry said it had stopped more than 3.3 million attacks, with its Cylance AI platform blocking the most cyberattacks overall in the United States, followed by Canada, Japan, Peru and India. The most unique malware was observed in the United States, then Japan, South Korea, India and Canada.

The company also pointed out that ransomware groups such as LockBit, Cl0p, Cuba, and ALPHV are increasingly using double extortion tactics as insurance on attacks, as organizations worldwide improve their data backup strategies.

“Malicious actors are working harder than ever to expand their range and volume of cyberattacks,” Ismael Valenzuela, the company’s vice president of threat research and intelligence, said in a news release. “The intensifying number of novel attacks targeting nations and industries demonstrates the impact of the macroeconomic climate on cybersecurity. However, while threats are increasing in number and diversity, so is our ability to defend against them with advanced technologies that predict and prevent attacks.”

BlackBerry provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500 million endpoints including more than 235 million vehicles.

BlackBerry stock last traded at C$5.06 per share and is up 5.86 per cent in past month.

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