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Akamai Technologies, Inc. has unveiled its latest State of the Internet (SOTI) report, revealing a dramatic surge in cyberattacks on APIs and applications. In June 2024 alone, Akamai detected over 26 billion attacks worldwide. The report highlights a 65% increase in such attacks over the past year in the Asia-Pacific and Japan (APJ) region, particularly impacting the financial services and commerce sectors.
The rise in attacks is linked to the rapid deployment of apps to enhance customer experience and business growth, which has expanded the attack surface and exposed vulnerabilities such as poor coding and design flaws. Additionally, the rapid expansion of the API economy has provided cybercriminals with more opportunities to exploit weaknesses.
Key Findings:
– The APJ region saw a peak of 4.8 billion attacks in June 2024, with financial services and commerce sectors being the most targeted.
– API abuse is a major concern, with various attack forms including data breaches and Distributed Denial-of-Service (DDoS) attacks.
– Layer 7 DDoS attacks targeting the application layer increased five-fold over the past year, totaling 5.1 trillion attacks. These attacks often disrupt political events and social media platforms, influencing voter sentiment and access to election-related information.
– From Q1 2023 to Q1 2024, Australia, India, and Singapore experienced the highest volumes of API and web application attacks in the APJ region.
– Social media has seen a consistent rise in Layer 7 DDoS attacks, with Singapore, India, and South Korea being the most affected.
– The commerce industry has been hit hardest by API and web application attacks, with attacks more than double those on other sectors.
Reuben Koh, Director of Security Technology & Strategy at Akamai, emphasized the urgent need for robust security practices given the high concentration of web attacks. Rupesh Chokshi, Senior VP and General Manager of Application Security at Akamai, warned that successful attacks could significantly harm an organization’s revenue and reputation.
Akamai’s report, “Digital Fortresses Under Siege: Threats to Modern Application Architectures,” also includes insights on mobile app security and case studies specific to various regions. This report marks the 10th anniversary of Akamai’s SOTI series, providing expert analysis on cybersecurity trends and web performance.
