Did you know dedicated denial of service (DDoS) attacks soared during the first half of last year?
According to The Hacker News, DDoS attacks in the first six months of 2024 were up 46% versus the comparable quarter a year prior.
In today’s digital age, businesses rely more and more on the internet. Many have virtual storefronts where they serve customers close to home and abroad. However, companies must also be mindful of online threats since hackers relentlessly launch cyberattacks.
One kind of cyberattack is the DDoS variety. These attacks can throw a wrench into your operations — grinding them to a halt. Unplanned downtime, financial losses, and reputational harm could be the end result.
DDoS attacks are launched by cybercriminals who overwhelm a company’s network or online service by flooding it with tons of traffic. They do this by using botnets, which refer to other devices that they illegally tap into to flood networks and online services. If a DDoS attack is successful, your consumers won’t be able to access your site.
Before you can fight back and safeguard your business from DDoS attacks, you need to know more about the problem.
Here are three things you should know about them — followed by how to fend them off.
1. There Are Different Kinds of DDoS Attacks
Several types of DDoS attacks exist. One type is the volume-based attack that involves flooding a target with a huge amount of traffic to max out bandwidth and render services unavailable. ICMP floods and UDP floods are examples of volume-based DDoS attacks.
Two other kinds of DDoS attacks include protocol attacks and application layer attacks. On the one hand, protocol attacks involve using network protocol vulnerabilities like Ping of Death and SYN floods to overwhelm servers so they’re rendered unavailable. On the other hand, application layer attacks involve concentrating on specific services or applications like HTTP floods to overwhelm resources and disrupt normal business operations.
2. Reasons for DDoS Attacks Vary
No business with an online presence is safe from DDoS attacks. There are, however, various reasons why companies are targeted. One reason is competitive sabotage. Unfortunately, the cut-throat nature of the business world means some players might go to extremes to get ahead. They might go as far as to use DDoS attacks as a form of competitive sabotage so that their rivals’ operations are disrupted.
Another reason cybercriminals might launch DDoS attacks is to commit financial extortion. Launching an attack could be the precursor to demanding a ransom to call off the attack.
Yet another reason some cybercriminals launch DDoS attacks is for hacktivism purposes. Some overzealous activist groups could target businesses to show displeasure with practices, policies, or affiliations.
3. Potential Consequences of DDoS Attacks Are Dire
As you can imagine, there are consequences if cybercriminals launch successful DDoS attacks. One negative outcome is financial loss. If your online storefront is shut down by a DDoS attack during a busy shopping period, your business could suffer a significant financial blow. It can also cost a ton to recover after a successful attack against your company.
In addition to financial setbacks, your business can face reputational damage after a DDoS attack. Some customers may find it hard to trust your company after the inconvenience of such an incident. Yet another possible consequence involves legal and compliance issues. If a DDoS results in the exposure of confidential customer data, your company may face regulatory fines and legal penalties.
Ways to Protect Your Company from DDoS Attacks
The good news is there are effective ways to reduce the risks posed by DDoS attacks. It’s essential to have strong network security protocols and policies in place, for example. Using intrusion detection systems, firewalls, and intrusion prevention systems will help.
You should also consider hiring a cybersecurity business offering DDoS mitigation services. The company can monitor traffic patterns that can be precursors to impending DDoS attacks and launch measures to fend off cyberattacks.
DDoS attacks are serious problems that can deal your business a severe blow you’ll want to avoid. Following these recommendations can help your company reduce the odds of becoming a victim.
