The Rising Tide of Cybercrime: Why Threat Hunting and Intelligence Are Imperative

By Vaidotas Sedys, Head of Risk at Oxylabs

In an era where digital transformation is accelerating at an unprecedented pace, the specter of cybercrime looms larger than ever. In 2023, the United States witnessed a staggering 21% year-over-year increase in cybercrime costs, culminating in an all-time high of $12.5 billion lost due to these malicious activities. This alarming trend is underscored by a steady rise in reported cyberattacks, which surged from approximately 250,000 in 2016 to 480,000 in 2022.

As organizations grapple with the reality that no company is immune to cyber threats, it becomes evident that a reactive approach to cybersecurity is no longer sufficient. The next cyberattack could be lurking just around the corner or even hidden within an organization’s own systems. To combat this evolving threat landscape, companies must adopt a proactive approach—one that emphasizes threat hunting and threat intelligence.

Understanding Threat Hunting: A Proactive Defense

Threat hunting is the active search, identification, and isolation of potential threats before they can inflict damage. Unlike traditional reactive strategies that respond to incidents after they occur, threat hunting empowers cybersecurity teams to proactively seek out vulnerabilities and threat patterns. This approach not only mitigates risks but also enhances an organization’s overall security posture.

A successful threat-hunting team typically comprises various specialists, including:

• Threat Analysts: These professionals analyze data to understand and predict attacker behavior.
• Incident Responders: They are prepared to minimize the impact of security incidents.
• Cybersecurity Engineers: Responsible for creating secure network solutions that protect against advanced threats.

These teams are equipped with the knowledge and tools necessary to navigate their organization’s IT environment, gather relevant data, and identify potential threats. A well-defined risk escalation and communication process further enhances their ability to respond effectively to emerging threats.

The Role of Threat Intelligence

At the heart of effective threat hunting lies threat intelligence—the knowledge and information that enable organizations to prevent or mitigate cyber risks. This intelligence encompasses insights into threat actors’ motives, targets, and behaviors, derived from a variety of data sources.

Threat intelligence can be categorized into several types, including:

• Technical Data: Information about specific vulnerabilities and exploits.
• Social Media Intelligence (SOCMINT): Insights gleaned from social media platforms.
• Human Intelligence (HUMINT): Information obtained from human sources.
• Open-Source Intelligence (OSINT): Publicly available data collected from the internet.

OSINT, in particular, plays a crucial role in identifying vulnerabilities. By monitoring public websites, forums, and even dark web marketplaces, organizations can uncover potential data leaks or breaches. The beauty of OSINT lies in its accessibility; companies can gather valuable intelligence without incurring significant costs associated with accessing classified data.

Modern web intelligence solutions, powered by advanced AI and machine learning, have revolutionized the threat intelligence collection process. These tools enable real-time data scraping and analysis, allowing organizations to stay ahead of potential threats.

The Synergy of Threat Hunting and Threat Intelligence

To maximize the effectiveness of cybersecurity efforts, organizations must integrate threat hunting and threat intelligence. This combination allows for a comprehensive approach to risk management.

Proactive and Reactive Threat Hunting

Threat hunting can be approached in two ways: proactively and reactively.

• Proactive Threat Hunting: This involves actively searching for potential threats before they manifest. Threat intelligence can guide these efforts by highlighting the most vulnerable areas within an organization’s systems.

• Reactive Threat Hunting: This approach responds to alerts or incidents. Threat intelligence provides insights into the tactics and methods employed by threat actors, enabling teams to quickly identify and neutralize threats.

For instance, if a threat-hunting team receives an alert about suspicious login attempts, threat intelligence can inform them about similar incidents reported by other companies, allowing for a swift and informed response.

Attack Modeling

Another critical aspect of combining threat hunting and threat intelligence is attack modeling. By analyzing industry-wide threats, organizations can anticipate potential attacks and prepare accordingly. For example, if threat intelligence indicates that a particular group is known for phishing attacks, threat hunters can focus their efforts on monitoring incoming emails and educating employees about phishing risks.

Leveraging AI for Enhanced Cyber Risk Management

The rapid advancement of AI technologies has the potential to transform how businesses approach cyber risk management. Cybersecurity specialists are increasingly leveraging AI solutions to enhance both threat hunting and threat intelligence efforts.

Automated Threat Detection

AI and machine learning can help cybersecurity teams identify complex patterns within large datasets, enabling automated threat detection. By analyzing network traffic, system logs, and user behavior data, AI systems can uncover anomalies that may indicate a potential threat—often in real time.

Enhancing Threat Intelligence with AI

AI also enhances threat intelligence and OSINT efforts. Utilizing natural language processing (NLP) techniques, AI systems can analyze unstructured data from various sources, including news articles and social media feeds. This capability allows organizations to gather insights from a broader range of information, improving their understanding of the threat landscape.

Conclusion: A Call to Action

In today’s rapidly evolving cybersecurity landscape, the integration of threat hunting and threat intelligence is essential for building a robust security strategy. By proactively searching for cyber threats and leveraging both internal and external data, organizations can detect potential risks and mitigate them before they escalate into significant issues.

As cyber threats continue to evolve, fueled by advancements in technology, organizations must prioritize proactive risk hunting and neutralization strategies. The safety of systems, clients, employees, and reputations hinges on the ability to stay one step ahead of malicious actors.

About the Author
Vaidotas Sedys is the Head of Risk at Oxylabs, where he leads initiatives to enhance cybersecurity measures and protect organizations from emerging threats.