Plus: Cyber-insurance will double in price next year
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 Microsoft has stated that Exchange server flaws need to be manually fixed. Users will need to activate Extended Protection to ensure complete safety from cyberattacks. More: - Microsoft recently patched 121 security flaws, many of which could have been used by hackers to gain remote control access.
- The company announced that it is not aware of security flaws that are being used to breach users, but all those who've been affected by server hacks need to manually activate Extended Protection.
- Microsoft has issued multiple Exchange Server security updates:
- Exchange Server 2013 CU23
- Exchange Server 2016 CU22,
- CU23 Exchange Server 2019 CU11 and CU12.
Zoom Out: - Microsoft has been the subject of numerous breaches this year. The company's SQL servers were hacked a few weeks ago, while recently, researchers showed that China-based threat actors are using a new malware variant to breach Microsoft.
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 Snapchat's and Amex's sites were abused by hackers. Threat actors used redirects of Snapchat and American Express through a number of phishing attacks. More: - Researchers claim that the Snapchat open redirect bug was used over 6,000 times by hackers who created fake Microsoft, DocuSign, and FedEx landing pages.
- Hackers also abused an Amex security flaw through which over 2,000 emails were sent, managing to breach numerous targets.
- Open redirects are a type of cyberattack in which users are led to believe that they are on a legitimate and safe website during the entire time they are browsing the web. They are initially sent to a legitimate link and then are immediately redirected to a malware-infected link.
- While Snapchat has been notified of the bug since 2021, the company has not patched the flaw so far.
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 A new social hacking campaign by the North Korean Lazarus hacking group has been tracked. Lazarus is impersonating Coinbase to target employees in the fintech industry. More: - The group is using methods that are now known for North Korean-backed groups, such as faking job offers.
- Lazarus is sending a malware-infected PDF file to its targets, pretending to be Coinbase. The latter is one of the largest cryptocurrency companies in the world.
- The threat actor has previously targeted victims with similar methods and pretended to be Lockheed Martin and General Dynamics.
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 Access to cyber insurance for companies will be reduced by half in 2023. Companies that already have a cyber policy are also at risk. More: - Insurance companies have been increasing premiums while also reducing coverage due to the increasing number of cyber attacks this year.
- U.K. pricing increased 102% in the first quarter of 2022, driven mainly by a large number of ransomware cyberattack cases.
- The increase in pricing is to likely reduce the number of companies that can afford cyber insurance policies by half.
- Viruses and malware cost an average of $68,000, while targeted attacks cost $188,000.
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 Saudi Arabia has stated that it aims to invest in over 40 cybersecurity startups. The startups will be part of a national business accelerator. More: - The accelerator, named CyberIC, will train employees from national agencies, accelerate cybersecurity activities and develop national cybersecurity products, services, and solutions.
- CyberIC will have six main tracks: innovation and entrepreneurship, cybersecurity officers, cybersecurity trainers, fresh graduates, cybersecurity specialists, and law enforcement agencies.
- The government program will also train over 10,000 citizens with cyber exercises.
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- Black Dragon Capital has announced that it will launch a new collective comprising former NSA, Mossad, and other intelligence agencies.
- The automotive cybersecurity market is projected to grow from $2B in 2021 to $5.3B by 2026.
- According to a new report, Australian authorities are behind on implementing zero-day cybersecurity practices set by the U.S. authorities as part of protective measures against threat actors.
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 |  | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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