SonicWall Report: Cyberattacks Surge, MSPs Crucial for Defense

SonicWall’s 2024 report reveals escalating cyber threats, highlighting the critical role of managed service providers in bolstering cybersecurity defenses.
By: | February 21, 2024

SonicWall’s Annual Cyber Threat Report for 2024 reveals a sharp rise in cyberattacks, with intrusion attempts up by 20%, ransomware attacks increasing by 27% in the second half of the year, and cryptojacking volume spiking by 659% globally, according to a press release by the company.

The report highlights the growing complexity and depth of the threat landscape, with cybercriminals diversifying their tactics and platforms. SonicWall discovered 293,989 “never-before-seen” malware variants, averaging 805 a day, indicating the relentless and adaptive nature of digital threats.

In response to the escalating threat landscape, organizations are increasingly turning to Managed Service Providers (MSPs) to bolster their defenses. MSPs provide an additional human-layer of defense, addressing alert fatigue, and freeing up resources for core business functions.

SonicWall President and CEO Bob VanKirk stated, “Security professionals need assistance to cope with the overwhelming volume of cyberattacks and protect from the endpoint to the cloud. Especially as the cloud becomes an indispensable reality for businesses, the role of MSPs is shifting from technical maintenance to raising the bar on their customers’ security posture.”

The report also highlights the surge in ransomware activity in the second half of 2023, up 27%, along with increases in IoT exploit (+15%), intrusion attempts (+20%), and encrypted threats (+117%). These figures underscore the need for businesses to continually adapt their security strategies and lean on MSPs to identify and remediate threats quickly.

SonicWall Executive Vice President of Managed Security Services Michael Crean emphasized the need for proactive cybersecurity measures, stating, “Today’s organizations demand an integrated approach for end-to-end managed threat protection enabling MSPs to help customers navigate the cybersecurity landscape with confidence and resilience.”

The report further provides insights into a range of threats, including malware, which saw an 11% global increase in 2023, with Latin America and the U.S. experiencing the biggest jumps of 30% and 15% respectively. Meanwhile, Europe saw a 2% decrease, with the UK witnessing the steepest decline of 28%.

The data presented by SonicWall underscores the evolving and tenacious state of cyber threats, emphasizing the crucial role of MSPs in bolstering cybersecurity defenses and helping organizations navigate the increasingly complex threat landscape. &

The R&I Editorial Team can be reached at [email protected].

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