Israeli industrial hackers raise $100m for cybersecurity – eeNews Europe

A group of ethical hackers based in Israel has raised $100m to test out the vulnerabilities of industrial systems.

CYE launches non-simulated attacks on to highlight vulnerabilities. This is of increasing importance as there has been a surge in breaches despite an explosion in the number of cybersecurity solutions introduced to the market, and concurrently, a significant increase in corporate security budgets.

The funding came from Stockholm-based global investment organization EQT, with participation from existing investor, 83North. The investment is EQT’s first in an Israeli company.

Following a US- advisory last month, the maker of a -based programmable logic controller (PLC)  that is used widely among companies in the power generation and manufacturing sector, released a warning regarding successful exploitation of discovered vulnerabilities that could enable an adversary to start/stop services, execute malicious codes remotely, and/or limit system availability.

In general, standalone hardware-based PLCs are often not designed with security in mind but do benefit from the relative obscurity of running on proprietary OT protocols says CYE. As these software-based PLCs runs on machines, their potential exposure to threats is much greater than any IT connected devices. The new PLC Agents are designed to manage PLC software based on user commands which are received from the , however, under wrong circumstances, it could be manipulated by an attacker via external remote connections says the group.

Hyver, CYE’s flagship product, uses advanced algorithms and graph modeling to conduct a comprehensive and accurate cybersecurity , covering the entire organization, as well as third-party vendors. Highly experienced ‘red teams’ then perform real non-simulated attacks, allowing CYE to accurately predict possible routes, giving customers the ability to prevent such attacks before they occur, as well as the knowledge of where resources need to be invested. 

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