When People Merry, The Enemy Strikes: The Growing Threat of Economic Cyber Warfare

I’m writing this article on a holiday weekend, just few days to the most important American holiday, the Independence Day. I can’t help but think about how vulnerable we are to cybercrime during these times. Last year, cybercrime cost the US more than $10 billion.

The cyberspace has become a battlefield where malicious actors wage economic warfare against countries, especially the US by attacking our most cherished celebrations. Holidays hold a special place in our hearts. Whether it’s the festive spirit of Christmas, the joyous fireworks on Independence Day, or the gratitude-filled Thanksgiving dinner, these occasions bring us together as a nation. Unfortunately, cybercriminals have recognized the vulnerability of our heightened emotions during these times and have strategically honed in on them. But should we cower in fear of cyberattacks and refrain from our cherished ways of life and freedom?

In recent years, there has been a growing trend of cyberattacks targeting American holidays. These cyberattacks are strategically orchestrated to target both businesses and consumers, resulting in significant economic repercussions for the United States. Startlingly, the most severe cyber incidents of the past decade occurred during or around major holidays, such as Memorial Day, July…