#cybersecurity Tech News.

Google's cybersecurity organizations warn that data theft extortion groups are targeting professional and financial services organizations by impersonating IT support. These groups pose as IT technicians remotely and in person, convincing targets to download remote management and monitoring utilities or steal data using USB storage media. Between January and May, dozens of organizations were targeted with these kinds of attacks. The FBI reports that the Silent Ransom Group has victimized companies in various sectors, including law firms, since Spring 2023.

William Barlow, former IBM vice president of threat intelligence, alleges IBM covered up three data breaches by foreign governments between 2013 and 2016. The breaches involved IBM's core network and at least two subsidiaries, with data stolen and government agencies never notified. Barlow claims the attacks were carried out by APT 10, a Chinese government-linked group targeted by the FBI in 2018. IBM declined to comment, stating the lawsuit was filed in 2020 and the U.S.

Anthropic's Mythos model boosted shares of CrowdStrike and Palo Alto Networks more than 70% between April and May. However, recent earnings showed shares lost 8% and 3% respectively. Analysts say AI benefits take time and are a multi-year process. Cybersecurity stocks sold off early in the year due to concerns about AI tools upending business models. Mythos, deemed too powerful to release, renewed enthusiasm for the sector.

Palo Alto Networks reports $3 billion in Q3 revenue, 31% year over year, exceeding $2.941 billion forecast. The company achieved 31% growth in service revenue to $2.41 billion and 31% growth in product revenue to $594 million. CyberArk and Chronosphere contributed $388 million in revenue and $1.6 billion in ARR. SASE ARR rose 40% to over $1.6 billion, XSIAM ARR doubled to over $600 million, and Prisma AIRS customer count tripled quarter over quarter.