According to the 2024 SonicWall Mid-Year Cyber Threat Report, India experienced a significant increase in cyber threats, with malware attacks rising by 11% to 1,344,566 from 1,213,528 in 2023. Additionally, ransomware attacks surged by 22%, and Internet of Things (IoT) attacks jumped by 59% to 1,680,787 from 1,057,320.
The report highlighted a staggering 409% rise in crypto attacks. Debasish Mukherjee, Vice President, APJ Sales at SonicWall, noted, “Organizations today confront a dynamic threat landscape where threat actors continually innovate to outpace enterprise defenses.”
Cyber threats put 12.6% of annual revenues at risk, with businesses facing an average of 1,104 hours of critical attacks over 880 working hours. Effective cybersecurity measures potentially saved 46 days of downtime.
In the first five months of 2024, 78,923 new malware variants were identified, with over 500 new strains discovered daily. Globally, malware volume rose by 30% in the first half of 2024, including a 92% spike in May alone. While cryptojacking declined by 60% globally, it remained a significant issue in India.
