In recent weeks, the cybercriminal group UNC5537 has made significant waves. This ransomware gang, potentially linked to ShinyHunters or Scattered Spider, stole over 560 million customer records from Ticketmaster. On May 28, they listed this data for sale on their revamped leak site, BreachForums, with a price tag of $500,000. Just two days later, the group claimed to have obtained 30 million account records from Santander Bank in Spain, demanding $2 million for the data. Both companies confirmed the breaches after these announcements.

A June 10 analysis by Mandiant, an incident-response firm now part of Google, revealed that these data leaks, along with at least 163 other breaches, were not due to system vulnerabilities but rather the exploitation of stolen credentials and inadequate multifactor authentication (MFA) controls. According to Mandiant, no evidence indicates that the breaches stemmed from Snowflake's enterprise environment. Instead, all incidents are traced back to compromised customer credentials.

While implementing MFA could have prevented the data theft from Snowflake's systems, the companies involved have broader issues beyond this single control. Businesses must ensure visibility into their attack surfaces, promptly disable accounts of former employees and contractors, and minimize entry points for attackers. Chris Morgan, senior cyber threat intelligence analyst at ReliaQuest, emphasizes that attackers often exploit basic security lapses. "Targeting the low-hanging fruit — in this case, insecure credentials — can be achieved with little effort from the threat actor but provides ample opportunities," he notes.

There is significant room for improvement in MFA adoption. Despite reports showing that 64% of workers and 90% of administrators use MFA, over 60% of organizations still have at least one root user or administrator without MFA enabled. According to Ofer Maor, co-founder and CTO at Mitiga, achieving consistent and verifiable MFA implementation is crucial. He suggests that companies enforce and require MFA, disable non-SSO logins, and enhance security measures with device- or hardware-based authentication for sensitive infrastructure.

Organizations should implement access control lists (ACLs) to restrict user access to cloud services or at least review access logs daily for anomalies. Jake Williams, a faculty analyst at IANS Research, recommends restricting IP addresses for cloud infrastructure access and emphasizes the importance of access reviews to identify unexpected access points.

Continuous monitoring of applications, log data, access activity, and data aggregation services is essential for detecting and preventing attacks. Organizations need to alert on specific behaviors or threats, which could have identified the cybercriminals' attempts to access cloud data, says Brian Soby, CTO and co-founder at AppOmni.

Cloud providers often prioritize usability over security, so relying solely on their default settings can be risky. For example, Snowflake's default settings do not require MFA, making it easier for attackers with compromised credentials to gain full access. Companies must go beyond these defaults and enforce higher security standards.

Even if a company does not directly use Snowflake or another cloud service, third-party providers might, exposing their data to risk. Ensuring that all service providers handling company data follow proper security measures is essential, as highlighted by IANS Research's Williams. Reaching out to service providers to confirm their security practices is crucial in protecting data in today's complex supply chain environment.