Guy Caspi, CEO of Deep Instinct Says Cyber Warfare is Adequate to Physical Violence

According to CTech reports, the CEO of Deep Instinct, Guy Caspi, gave a speech at a cybersecurity conference, Mind the Tech NY. Guy Caspi was speaking at the conference in New York with his presentation titled, “The Era of Nation State Attack.” He emphasized the dangers of cyber warfare as it can lead to physical violence.

“When we glance at what is happening in the cybersecurity domain, unfortunately in terms of threats it is not in a good state,” said Guy Caspi. He said that the impact of cyber warfare is almost equal to a physical war. Emphasizing cyberattacks, he noted that it is easy to launch cyberattacks but hard to defend against them.

Furthermore, Guy Caspi spoke about the speed and sophistication of cyberattacks. “When we glance at the complexity of the attacks. We see an ernomous problem and huge gaps that are growing every week because we don’t have the adequate technologies to address what we see in the market. It is common for a company to identify and address a cyberattack. However, we see more and more complex attacks such as ransomware which is daily in the US,” he said.

Guy Caspi said that cyberattacks are becoming a board of director topic at every enterprise in the US. “When we are looking at what is happening in the world in terms of Nation-State, the situation is scaling,” he said. He presented three examples of the biggest Nation State cyberattacks.

Firstly, Caspi emphasized the impact of the Russia-Ukraine war in the cyberspace. He spoke on the aggressiveness of Russia’s cyberattacks on countries like Costa Rica that are in support of Ukraine.

Secondly, he noted the cyberattacks that occurred in the blockchain. In February, hackers attacked Wormhole bridge and stole over $320 million. The largest blockchain cyberattack is the Ronin Network hack that occurred in March. The hackers stole about $625 million from Axie Infinity Ronin Network. Caspi also mentioned the cyberattack that was launched on Beanstalk blockchain in April. Hackers stole over $180 million from the blockchain crypto company.

Guy Caspi went further to emphasize ransomware and financial malware. He explained that financial services saw a 35% increase in ransomware attacks in the first quarter of 2022.

Additionally, he said that one of the most complex cyberattacks was the Iranian Cyberattack on Albania in July.”It was a cyberattack that was almost like a war on a country, the way it was implemented from different stages, it was like a standout war.”

He said that it would be impossible to address today’s cyber challenges with technologies of the past. Lastly, Guy Caspi said cyberwar is as dangerous as a blood fight. “There is cyberwarfare happening everyday. You don’t feel it because there is no blood on the streets, but it is super dangerous.”