Why MSSPs should implement X-PHY AI Embedded CyberSecure SSDBy X PHY / November 26, 2021 June 3, 2022 Third-party Cyber attacks; MSPs and MSSPs Although third-party breaches are nothing new and the cyber world holds many examples of that, getting breached due to a third-party appointed solely for your cybersecurity is the scariest! Managed Service Providers (MSPs), as well as Managed Security Service Providers (MSSPs), are the prime target of adversaries, as they have access to a fortune’s load of information about other organizations. Moreover, they also grant an adversary access to multiply a cyberattack by thousands, a tactic that ransomware operators are fond of. Therefore, MSSPs are a high-value target for attackers. What’s at Stake; Security-Critical Information of Customers MSSPs, on the other hand, are the most favourite because they not only have PII and customer data of other customers, but they may have all the listed weaknesses and vulnerabilities of each of their customers stored in a file on one of their systems. This is what makes MSSPs look juicier than the rest of the service providers. They also have access to the most critical information about key assets of customers, like open ports, product versions, etc. available on their monitoring tools. If this sounds like heresy, here are some stats: Cyber-attack on a single managed service provider (MSP) or managed security service provider (MSSP) could result in a loss of around $80 billion worth of capital across hundreds of small businesses. Are MSSPs themselves secure; A FireEye Case Study To refresh the memory a bit, here’s a brief on the Silicon Valley Cyber Security firm, FireEye! If you remember the December 2020 cyber attack on FireEye, you know just how secure a traditional MSSP is. The Russian state-sponsored attackers had ‘world-class capabilities’, ‘were highly trained and disciplined,’ as per FireEye. They “targeted and accessed certain Red Team assessment tools [that are used to] provide essential diagnostic security services to our customers.” said FireEye representatives while explaining the breach. The attackers, in short, stole FireEye’s advanced hacking tools, despite their most advanced and up-to-date cybersecurity. The Attack Vector; A Supply Chain Attack Following this attack, multiple U.S. agencies were successfully targeted, including the departments of State, Treasury, Commerce, Energy and Homeland Security as well as the National Institutes of Health. The question is, HOW?!It was a massive supply-chain attack. A third-party Texas-based firm that makes software used by thousands of private companies as well as many federal agencies, called SolarWinds, was used as an attack vector. The adversaries cleverly infected a software update from Solarwinds with their malware called SunBurst. Upon applying the infected updates, the users of the software were immediately affected. It is important to notice the deep dilemma with software-level security that even MSSPs and cyber security firms are not safe from them, reliant on third- party software supplies. While customers are usually strongly advised to update their systems to the latest versions of the software, doing so got them breached. Even FireEye confirmed that this was the attack vector. “The SolarWinds compromise was the original vector for the attack against FireEye. We believe that this is the initial attack vector after which they used other sophisticated techniques to penetrate and remain hidden in our network.” says FireEye. How to Remain Safe from Third-Party Breaches Third-party software reliance isn’t going anywhere anytime soon. Even if organizations secure themselves from cyber attacks with the most advanced tools, someone in the organization would still be using Zoom, Skype or Slack. There will always be third-party software and there will always be non-vigilant and non-technical staff like HR and Finance, even in the most technologically advanced firms. Hence, there will always be a supply chain attack in the making. A panel of analysts stated at the Forrester Research Security & Risk 2021 Conference that “60% of security incidents in the next year will come from issues with third parties”. It’s like having advanced fire alarms and still getting your house burnt down because the neighborhood caught fire. See Also:Why Zero Trust Architecture is necessary in Critical Infrastructure Industries Security at the Firmware Level; the Only Solution While most MSSPs are doing a fairly good job protecting their customers, they want to be the last reason their customers got attacked for. As MSSPs continue to evolve into one of the most powerful industries, their only chance to stay protected from third-party data breaches is to have security at the firmware level. We at Flexxon call it the “Security Vault”. It means having security closest to your most valuable assets, within your systems. This is essential for the security of any organization to be able to thwart all internal or external attacks from inside, as their last line of defence. The Security Vault; the X-Phy AI-embedded CyberSecure SSD Our X-PHY AI-embedded SSD is immune to all cyberattacks. This award-winning SSD responds to cyber attacks swiftly and completely. For instance, it thwarted an attack of WannaCry Ransomware within seconds, which is a ransomware that took the cyber world by storm in 2017. As one of the leading Professional cybersecurity solution specialists Chris Dewey observed while testing our SSD on an unprotected system, “I noticed that X-PHY acted on all the threats I could throw at it. I was very surprised at how quickly it detects a threat and stops it from doing any damage.” Hence, X-PHY SSD is dependent neither on signature-based detections nor on cyber security professionals to respond to alerts. It is rather a protection solution on the firmware level. This means that our solution can handle the ever-evolving and latest variants of all malware on their first encounter. Had our X-PHY SSD been deployed on the later-affected systems of FireEye, the so-called SunBurst malware would never have been executed and the attack would have gone down the drain, right then and there. Therefore, MSSPs and software suppliers should immediately implement the X-PHY cybersecure SSDs to make sure they don’t redirect any cyber attacks towards their unsuspecting customers. Conclusion MSSPs are a part of an extremely important industry, cybersecurity. Global spending for managed security services will grow 8% annually and surpass $46 billion by 2025, according to a May 2020 report by MarketsandMarkets. Therefore, MSSPs have a bright future if they take the right measures, like deploying security at the firmware level using AI-embedded CyberSecure SSDs. If you would like to discuss anything further, feel free to contact us at:Email: [email protected] Phone: (SG) +65-6493 5035 You May Also Like:How does X-PHY® SSD help protect against RaaS Share This On Your Favorite Social Media!