Recently, the Securities and Exchange Commission’s exam division issued a Risk Alert (the “Alert”) where it carried out several targeted cybersecurity investigations. The agency is now concerned with how there’s been an increase in a specific type of hack known as “credential stuffing.“This cyberattack involves using stolen credentials to log into web-based systems and issue the unauthorized transfer of client funds.In this article, we’ll go into greater detail about credential stuffing and discuss ways to help you detect and prevent this type of attack.What do we mean by “credential stuffing attacks”?Credentials stuffing involves malicious hackers obtaining user credentials through breaches and then using the compromised data to get access to a system. It’s a very effective cyberattack method that uses automation and scaling bots.Cybercriminals take advantage of the fact that users tend to use the same usernames and passwords across multiple services. This assumption is right to some extent. According to stats, approximately 0.1-0.2% of breach credentials can lead to a successful login when tried from another service.Over the years, the security community has witnessed the appearance of several sophisticated bots that can simultaneously attempt multiple logins – each originating from other IP addresses. The fact that they can break through straightforward security measures, such as prohibiting entry from IP addresses that has too many failed logins, makes it a significant threat for us.It’s also why adopting a multi-layer approach has become a necessity when it comes to ensuring software security and keeping critical data safe. For example, you can invest in DAST security tools or the act of running your application ..
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