The Biggest Corporate Hacks of 2021
Businesses are a prime target for cybercriminals, regardless of their size, industry, or location.
In this graphic sponsored by Global X ETFs, we’ve visualized the largest corporate hacks of 2021, as measured by ransom size. The full list is also tabulated below.
|Victim||Country||Industry||Amount paid or requested (USD millions)|
|Kia Motors||South Korea||Automotive||$20M*|
|CNA Financial||U.S.||Financial Services||$40M|
*Requested but not paid in full. Source: Microsoft (2021), CRN (2021)
Continue reading below for details on some of these extraordinary hacks.
Energy: Colonial Pipeline Co.
The Colonial Pipeline ransomware attack was the largest ever cyberattack on an American oil infrastructure target.
On May 7, hackers took down the company’s billing system and threatened to release stolen data if a ransom was not paid. During negotiations, the company halted its pipelines, resulting in gas shortages across the Southeastern United States.
It’s been reported that Colonial Pipeline promptly paid a ransom of $4.4 million in bitcoin (based on prices at the time). The FBI managed to retrieve some of these bitcoins, but their exact method was not revealed.
Accenture, one of the world’s largest IT consultants, fell victim to a ransomware attack in August of 2021. While this may seem ironic, it further proves that any business, regardless of industry, can be susceptible to hackers.
“There was no impact on Accenture’s operations, or on our client’s systems. As soon as we detected the presence of this threat, we isolated the affected servers.”
– Accenture spokesperson
The hack was traced back to LockBit, which claims to have stolen several terabytes of data from Accenture’s servers. A $50 million ransom was demanded, though it’s unknown whether the company actually made any payments.
Automotive: Kia Motors
Kia’s American business fell victim to a ransomware attack in February by a group called DoppelPaymer. Hackers threatened to release stolen data within 2 to 3 weeks if a ransom of $20 million (in bitcoin) was not paid.
This hack affected various systems including the Kia Owner Portal, Kia Connect (a mobile app for Kia owners), and internal programs used by dealerships. This also prevented buyers from picking up their new cars.
Kia denied it was hacked, but the timing of the ransom note and Kia’s service outages was suspicious. According to the FBI, DoppelPaymer has been responsible for numerous attacks since 2020. Victims include U.S. police departments, community colleges, and even a hospital in Germany.
JBS, one of the world’s largest meat processing companies, experienced disruptions at its North American facilities in May. Shortly after, the company confirmed it had paid hackers a ransom of $11 million in bitcoin.
“This was a very difficult decision to make for our company and for me personally.”
– Andre Nogueira, CEO, JBS USA
This attack, along with the Colonial Pipeline hack, represents an alarming trend of critical industries being targeted. For context, JBS claims it has an annual IT budget of over $200 million, and employs over 850 IT personnel globally. The group responsible for this attack is known as REvil, a now defunct hacker group based in Russia.
Increased Spending on the Menu
The rising frequency and sophistication of corporate hacks is a major threat to the world. In fact, recent research from PricewaterhouseCoopers has highlighted that 69% of businesses predict a rise in future cybersecurity spending.
The Global X Cybersecurity ETF is a passively managed solution that can be used to gain exposure to the rising adoption of cybersecurity technologies. Click the link to learn more.
Visualizing the Five Drivers of Forest Loss
Approximately 15 billion trees are cut down annually across the world. Here’s a look at the five major drivers of forest loss. (Sponsored)
Visualizing the Five Drivers of Forest Loss
The world has lost one-third of its forests since the ice age, and today, approximately 15 billion trees are cut down annually.
Forests are wellsprings of biodiversity and an essential buffer against climate change, absorbing billions of tonnes of carbon dioxide emissions every year. Yet, forest loss continues to grow.
The above infographic sponsored by Carbon Streaming Corporation highlights the five primary drivers behind forest loss.
Deforestation vs. Degradation
‘Forest loss’ is a broad term that captures the impacts of both permanent deforestation and forest degradation. There is an important distinction between the two:
- Permanent deforestation: Refers to the complete removal of trees or conversion of forests to another land use (like buildings), where forests cannot regrow.
- Forest degradation: Refers to a reduction in the density of trees in the area without a change in land use. Forests are expected to regrow.
Forest degradation accounts for over 70% or 15 million hectares of annual forest loss. The other 30% of lost forests are permanently deforested.
|Driving factor||Category||Average annual forest loss (2001-2015, million hectares)|
|Commodity-driven deforestation||Permanent deforestation||5.7|
|Forestry products||Forest degradation||5.4|
|Shifting agriculture||Forest degradation||5|
Commodity-driven deforestation, which includes removal of forests for farming and mining, is the largest driver of forest loss. Agriculture alone accounts for three-fourths of all commodity-driven deforestation, where forests are often converted into land for cattle ranches and plantations.
The harvesting of forestry products like timber, paper, pulp, and rubber accounts for the largest share of forest loss from degradation. This process is often managed and planned so that forests can regrow after the harvest.
Shifting agriculture and wildfires each account for around 5 million hectares or one-fourth of annual forest loss. In both cases, forests can replenish if the land is left unused.
Urbanization—the conversion of forests into land for cities and infrastructure—is by far the smallest contributor, accounting for less than 1% of annual forest loss.
How Much Carbon Do Forests Absorb?
The world’s forests absorbed nearly twice as much carbon dioxide (CO2) as they emitted between 2001 and 2019, according to research published in Nature.
On a net basis, forests sequester 7.6 billion tonnes of CO2 equivalent (CO2e) annually, which equates to around 15% of global CO2e emissions. As the impacts of climate change intensify, protecting forests from deforestation and degradation is increasingly critical.
Carbon Streaming Corporation accelerates climate action through carbon credit streams on REDD+ projects that protect the Earth’s forests. Click here to learn more now.
Ranked: Top 10 Foreign Policy Concerns of Americans
As the world’s superpower, the U.S. has major influence in world events. Which foreign policy concerns stand out for Americans?
In the United States, there is a distinct difference on top foreign policy concerns between Democrats and Republicans.
This chart uses data from Morning Consult to assess the top policy concerns of Americans.
The Top Concerns
Overall, the average American is most concerned about terrorism, immigration, and drug trafficking. Interestingly, this list corresponds with the concerns of the average Republican, though falling in a different order.
Meanwhile, Democrats are chiefly worried about climate change, another global pandemic, and terrorism.
Here’s a breakdown of the policy concerns at large and across political parties.
|Overall Rank with Americans||Foreign Policy Concern||Share of Voters Listing it as a Top Concern||Share of Democrats Listing it as a Top Concern||Share of Republicans Listing it as a Top Concern|
|#6||Preventing a global economic crisis||32%||33%||31%|
|#7||Securing critical supply chains||30%||27%||34%|
|#8||Preventing another global pandemic||30%||38%||22%|
|#9||Russia's invasion of Ukraine||27%||33%||21%|
|#10||Protecting human rights globally||25%||31%||18%|
|#13||Iran nuclear deal||21%||19%||24%|
|#14||Upholding democracy globally||15%||22%||8%|
Notably, the concern around U.S.-China relations ranks considerably low, as does preventing disinformation. Upholding democracy worldwide ranks extremely low with Republicans.
America’s Foreign Policy
Along party lines, the results are not surprising. Democrats skew towards multilateralism and want to engage with foreign bodies and other countries to tackle global issues. Republicans are generally more concerned with what’s happening at home.
Looking at the country as a whole and its relations with other nations, however, Americans lean more towards an America-first focus. According to Morning Consult, 39% of registered voters want to decrease U.S. involvement in other countries’ affairs, whereas 20% want to increase it; 30% want to keep the status quo.
Here’s a closer look at Americans’ desire to get involved in a variety of foreign policy initiatives:
|Issue||Increase Efforts||Decrease Efforts||Neither|
|Overseas Troop Deployment||21%||37%||30%|
|Trade and Tariffs||41%||15%||29%|
|Involvement with International Organizations||35%||21%||32%|
|Resolution of Military Disputes||38%||16%||33%|
|Resolution of Economic Disputes||43%||13%||31%|
As of October 2022
The U.S. Midterm Elections
With midterm elections underway, America’s foreign policy may not be the most important factor for voters. Pew Research Center found that in these congressional elections, foreign policy only ranked 12th among other key issues considered “very important” by registered voters.
The top five concerns of voters in these midterms are:
- The economy
- The future of democracy within the U.S.
- Energy policy
Regardless, the U.S. has a massive impact in foreign affairs and the results of the country’s midterm elections will likely cause a ripple effect globally. If Republicans win the House—which is looking extremely likely—and the Senate, President Biden’s foreign policy initiatives and priorities could be drastically restricted.
Personal Finance6 days ago
Ranked: The Best Countries to Retire In
Demographics4 weeks ago
Ranked: Gen Z’s Favorite Brands, Compared with Older Generations
Misc4 weeks ago
Visualized: Who Americans Spend Their Time With
Technology3 weeks ago
The Shrinking Trillion Dollar Market Cap Club
Markets2 weeks ago
Visualized: FTX’s Leaked Balance Sheet
Technology1 week ago
Visualizing the World’s Top Social Media and Messaging Apps
Politics4 weeks ago
Visualized: The Biggest Donors of the 2022 U.S. Midterm Elections
Misc3 weeks ago
Visualizing the Evolution of Vision and the Eye