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Flare raises $30M to thwart info-stealers like those used on Snowflake customers
Dec 17, 2024
Explore the rising menace of info-stealer malware and its impact on cybersecurity. Discover how a Montreal startup is revolutionizing the fight against account takeovers with innovative solutions. Learn about a new service that monitors the dark web for compromised credentials while automating password resets. With a significant funding boost, this startup is gearing up to expand its efforts against cybercrime and make waves in the threat intelligence market.
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Quick takeaways
- Flare addresses the increased threat of info-stealer malware by actively monitoring the dark web and resetting compromised passwords to safeguard businesses.
- The substantial $30 million funding for Flare underscores the rising demand for innovative cybersecurity solutions amidst escalating cybercrime in 2024.
Deep dives
Rise of Info-Stealer Malware
The increase in cybercrime in 2024 has been significantly driven by the rise of info-stealer malware, which enables hackers to easily collect and buy stolen login credentials on the dark web. This method allows them to gain unauthorized access to systems without needing to exploit vulnerabilities. Following a notable incident involving Snowflake, reports indicated a 266% rise in the usage of such malware over the previous year, showcasing how prevalent this issue has become. The ease with which criminals can acquire these credentials poses a major threat to businesses, emphasizing the urgency for effective cybersecurity measures.
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