Most Notable Phishing Attacks Throughout History

In the digital age, the internet has undeniably transformed lives in countless ways, but it has also introduced stumbling blocks, one of which is phishing. This insidious practice has led to numerous financial and reputational losses for companies worldwide.

In a chilling example, a business email compromise scheme orchestrated by a Lithuanian man named Evaldas Rimasauskas and his co-conspirators targeted Facebook and Google, resulting in over $100 million being stolen. The scam involved the creation of forged email accounts of Taiwan-based Quanta Computer and the sending of phishing emails with fake invoices, contracts, and letters to employees at the tech giants.

Another notable incident occurred in 2015, when Ubiquity Network's subsidiaries based in Hong Kong were tricked into making 14 wire transfers totaling an estimated $46.7 million to accounts in Russia, Hungary, China, and Poland. This social engineering attack, also known as a whaling attack, highlighted the vulnerability of even the most established organizations to phishing attacks.

The consequences of such attacks can be severe. In 2016, Austrian aerospace parts manufacturer and engineering company FACC lost an estimated $40 million due to a business email compromise attack, resulting in the CEO's job loss.

To combat these threats, innovative email security solutions like Graphus are emerging. Graphus, an AI-driven email security solution, automatically protects organizations from email-based phishing attacks, including ransomware, BEC, and others. The solution blocks sophisticated phishing messages before users see them, deploys via API without email traffic rerouting or lengthy installs, and provides intuitive reporting.

NotPetya, a malware attack that caused over $10 billion in monetary damages in June 2017, serves as a stark reminder of the potential devastation that cyberattacks can wreak. Initially starting as a supply chain attack against Ukrainian companies, NotPetya quickly spread to more than 60 countries.

Even the world's first power grid provider, Kyivoblenergo, fell victim to a phishing email in December 2015. Using BlackEnergy malware, a cyberattack disconnected 30 substations of a company's computer and SCADA systems for three hours, causing power outage for as many as 230,000 customers in the Ivano-Frankivsk region of Ukraine.

As the digital landscape continues to evolve, it is crucial for organizations to stay vigilant against these threats. To learn more about Graphus and how it can help protect your organization, book a demo available on their website.