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Cybersecurity Strategies Financial Institutions Can Rely On in 2024

  • adminadmin
  • October 5, 2025
  • data-breaches

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Cybersecurity researchers have revealed that threat actors are exploiting a now-patched vulnerability in Microsoft Windows to deploy the PipeMagic malware during RansomExx ransomware attacks. This exploitation hinges on CVE-2025-29824, a privilege escalation vulnerability affecting the Windows Common Log File System (CLFS), which Microsoft addressed in April 2025, according to a report from Kaspersky and BI.ZONE. First identified in 2022, PipeMagic has been utilized in RansomExx attacks targeting industrial sectors in Southeast Asia, functioning as a backdoor that allows remote access and execution of various commands on compromised systems. Past incidents have shown attackers exploiting CVE-2017-0144, a remote code execution vulnerability in Windows SMB, to breach victim networks. Notably, infection chains observed in October 2024 in Saudi Arabia were linked to a fraudulent OpenAI ChatGPT application.

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According to Verizon’s Data Breach Investigations Report, human factors have been the leading cause of breaches for five consecutive years. The most recent report indicates that almost 60% of all breaches in 2024 involved a human element. However, it is essential to clarify a prevalent misconception: the notion that “people are the weakest link” wrongly places the blame solely on employees for breaches.

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Public Exploit Combines Two Critical SAP Vulnerabilities, Leaving Unpatched Systems Open to Remote Code Execution

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These vulnerabilities were patched by SAP in April and May 2025, but not before they were exploited as zero-days by threat actors as early as March. Multiple ransomware and data extortion groups, including Qilin, BianLian, and RansomExx, have been seen exploiting these flaws, along with several espionage groups linked to China targeting critical infrastructures.

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