Locked Shields, NATO's annual live-fire cyberdefense exercise, began at the NATO Cooperative Cyber Defense Center of Excellence (CCDCOE) in Tallinn on Tuesday. Over two days, more than 2,000 participants from 32 countries are practicing the protection of national IT systems and critical infrastructure under the pressure of a large-scale cyberattack.
NATO’s Cooperative Cyber Defence Centre of Excellence (CCDCOE) on Tuesday kicked off the thirteen installment of Locked Shields, its annual live-fire cyber defense exercise.
Hackers paralyzed a pipeline. Banks and stock exchanges are even bigger targets
AP
Hackers are holding one of America’s most important pipelines hostage, a stunning development that should serve as a warning to even bigger targets: the nation’s financial industry.
The nightmare scenario is that a Colonial Pipeline-style ransomware attack disrupts major banks or even financial markets, dealing a blow to the flow of money and confidence in the system. Instead of lines at gas stations, social media would be ablaze with images of broken ATMs or inaccessible brokerage accounts.
These are not theoretical risks. Banks and stock exchanges overseas have been hit by damaging cyberattacks in recent years.