History of Cyber Attacks

Cyber Crime
The history of cybercrime is as vast and varied as that of computers and the internet combined. With the release of new technology, it adjusts and changes. The first recorded instance of cybercrime dates back to 1834, when robbers gained access to the French telegraph system and stole bank data.
Simplify Complex Wealth Management: Explore Altoo's Premium Features. Preview Altoo Wealth Platform.

This is frequently cited as the origin of cybercrime. As technology advanced, so did the skills of cyberattackers.

Cyberattacks began to target the phone system towards the close of the 1800s and the start of the 1900s. Notably, two years after Alexander Graham Bell built the telephone, youthful enthusiasts got into his company’s system and routed calls in the opposite way. This time frame prepared the groundwork for later cybercrimes with cutting-edge technology.

The turning Point 

Hacking became more common in the middle of the 20th century. This was a major turning point. The story began when the very first computer was built in the 1940s. Back then, it was hard to hack these big computers because they weren’t tied to the internet and were hard to get to. 

It’s interesting to know that John von Neumann, a computer pioneer, first thought of bugs in this decade.

Elevate Your Wealth Game: Empowering UHNWIs for Simplified Asset Management. Altoo Platform Preview

The age of “phone phreaking” began in the 1950s. People who were interested in how telecommunications systems worked figured out how to hack the phone network to make free calls. During this time, a group of people came together to create the first digital technologies. The future leaders of Apple were among them.

In terms of computers, the 1960s were mostly quiet. Most computers were very big and had strong security. However, there were early attempts at hacking, mostly by students who wanted to learn more about these systems and sometimes make them better.

In 1967, students were able to get deeper into a computer system at IBM. This event made people more aware of the need for safety.

First Example of a computer worm 

Cybersecurity got its start in the 1970s. Researchers like Bob Thomas and Ray Tomlinson made programmes like Creeper and Reaper for the ARPANET, which came before the internet. These were the first examples of a computer worm and security software, respectively. People became more aware of how important it is to keep data and systems safe from people who shouldn’t have access to them during this decade.

When Allen Scherr attacked MIT’s computer network in 1962, the modern history of hacking began to take shape. The Creeper Virus, the first computer virus, appeared on ARPANET in the 1970s. This showed that viruses could be a threat to computer systems in the future.

Crimes involving computers grew in the 1980s. Ian Murphy was the first person to be found guilty of cybercrime for breaking into AT&T’s computers in 1981. The famous “Morris Worm” attack in 1988 marked the end of the decade. It was a major cyberattack that showed how dangerous internet-based attacks could be.

Cybercrime came of age in the 1990s, with big events like the attacks by Datastream Cowboy and Kuji in 1994 and 1995 and Vladimir Levin’s bank heist. When the Melissa virus spread around the world near the end of the decade, people became more aware of online threats.

First DDoS Attacks

In the 2000s, hacking became more advanced and widespread. In 2000, “Mafiaboy” carried out a major DDoS attack on important business websites. Later, there were significant data breaches at HSBC Bank and Heartland Payment Systems in the mid-2000s.

There were a lot more online threats in the 2010s. Hacks like Operation Aurora, the Zeus Trojan, and the big breach of Target’s credit card records in 2013 and Stuxnet in 2010 show that cybercriminals are getting smarter and more dangerous. Ransomware like SamSam and WannaCry also spread a lot more in this decade. There were also big attacks on businesses and government agencies.

It kept changing and getting harder to hack as 2020 and later years went by. In 2020, big things happened, like when Neiman Marcus’s data was stolen and when Russia hacked into US institutions. 

The Colonial Pipeline episode, the Kaseya ransomware attack, and the Log4j flaw were all used the following year. Cyber threats are always getting worse and more varied. In 2022, ransomware attacks in Costa Rica and big security holes at Rockstar Games and Uber showed this.

The most important events in the history of cyber security in the last five years

2011: The PlayStation Network Hack

In 2011, there was a huge breach on Sony’s PlayStation Network that put the personal information of about 77 million people at risk. People were angry that Sony was going to court to prosecute a hacker. The attack caused a long network breakdown and became a major turning point in the history of cybercrime.

2012: Global Payment Systems Data Breach

In a less well-known but equally alarming incident, Global Payment Systems used debit cards connected to a cafe in Connecticut fraudulently. Even though this breach only affected a small group of people, it showed that banking systems are open to cyberattacks.

2014: Yahoo Had a Huge Data Breach

In 2014, Yahoo had a huge security breach that affected 500 million users. Hackers got to private user data, which was made worse by Yahoo’s weak security measures.

2014: Sony Pictures Entertainment Under Siege

The group Guardians of Peace launched a major cyberattack against Sony Pictures. Hackers from North Korea were later blamed for the breach, which exposed private information like senior salaries, emails, and movie scripts.

WikiLeaks and the DNC in 2015–2016

Russian hacker groups Cozy Bear and Fancy Bear broke into the Democratic National Committee, which had an impact on the 2016 U.S. presidential election.

2016: The EU Signs the GDPR

Personal data protection became more important with the General Data Protection Regulation, which was a big change in data privacy rules.

2018: Facebook and MyHeritage Under Fire

Facebook said there was a breach that affected 50 million people, and MyHeritage said 92 million accounts were compromised.

2018: Hacks on Marriott and British Airways

Marriott said there was a four-year data breach that affected 500 million guests, and British Airways said there was a major loss of customer data.

California Consumer Privacy Act of 2018

As cyber threats get worse, the CCPA was signed into law, showing the growing need for strong user privacy protection.

2019: Singapore’s Health Sector Breaks Through

Singapore saw a rise in cyberattacks targeting healthcare, showing how vulnerable this important area is.

2020: Cybersecurity in the Age of COVID-19

Cybercriminals took advantage of the chaos during the pandemic year, which shows that cyber risks are always there and changing.

What’s next?

Cybercrime has changed a lot over the years, from simple telegraph hacks to complex cyberattacks of today. This shows how quickly technology is changing and how important it is to have strong protection measures. The ways and tools that people try to use technology for bad will change as technology keeps getting better.

The most interesting change in this constantly changing environment is the rise of Ransomware-as-a-Service (RaaS). This model shows a smart and well-organized way to deal with theft, similar to how businesses usually work. It makes it possible for ransomware writers to work together and find affiliates to spread their harmful software. 

Targeted attacks on businesses are carried out by these affiliates, who are often skilled hackers. The coders and the affiliates split the money made from these activities.

This focus on business greatly increases the reach and effect of cyberattacks, making them more planned and possibly more damaging. RaaS not only makes advanced ransomware easier for more cyber criminals to get, but it also makes it harder for people who are supposed to protect against these risks.

When we think about the future, it’s hard to say what new, advanced techniques these threat players might use. Because of this, we must be careful and know a lot about safety. To effectively defend against new threats, you need to understand how they work.

As a result, cybersecurity is changing to include more than one type of defense. Not only does this use cutting-edge technology, but it also makes use of the skills of service providers and outside experts. To fight the complex cyber dangers of today and tomorrow, all organisations, no matter how big or small, are realising they need full security operations that use both technology and expert knowledge.

We think you might like

To boost the efficiency of the Swiss wealth management business and to strengthen Switzerland as a financial and innovation center are two main goals of the OpenWealth Association. The community of banks, wealth, and wealth managers was established in 2021 in Zurich to develop, define, maintain, and operationalize the Open API standard for the wealth management community.

In case you missed it

To boost the efficiency of the Swiss wealth management business and to strengthen Switzerland as a financial and innovation center are two main goals of the OpenWealth Association. The community of banks, wealth, and wealth managers was established in 2021 in Zurich to develop, define, maintain, and operationalize the Open API standard for the wealth management community.
Altoo: Your Gateway to Secured Streamlined Wealth. Discover Altoo Wealth Platform

Insights On Wealth Management And More.

Delivered To Your Inbox.
Left Menu Icon