CyberNews Briefs

SolarWinds attack cost affected US companies an average of $12 million

A new study from IronNet that surveyed 473 security IT decision-makers found that the SolarWinds attacks cost US companies an average of $12 million. Although the attack pushed security teams to increase network defenses, most companies affected by the attack have suffered from recent attacks as well. In the 2021 Cybersecurity Impact Report, professionals from the US, UK, and Singapore who work in the technology, financial, public services, and utility sectors reported their experiences with SolarWinds.

The survey found that 90% of companies surveyed had increased their security posture over the past two years, however, 86% suffered attacks severe enough to mandate a board meeting or C-level executives meeting. 70% of surveyed companies felt the impact of SolarWinds, with 31% reporting significant impact, 39% reporting slight impact, 15% stating that it had a small impact, and the remaining 15% was not impacted by the attack. The average impact on each company was 11% in annual revenue, according to the report.

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