Security News > 2020 > September > Which cybersecurity failures cost companies the most and which defenses have the highest ROI?

Massachusetts Institute of Technology scientists have created a cryptographic platform that allows companies to securely share data on cyber attacks they suffered and the monetary cost of their cybersecurity failures without worrying about revealing sensitive information to their competitors or damaging their own reputation.

The researchers recruited seven large companies that had a high level of security sophistication and a CISO to test out the platform, i.e., to contribute encrypted information about their network defenses and a list of all monetary losses from cyber attacks and their associated defensive failures over a two-year period.

Despite all of the companies saying that they blocked access to unauthorized ports, attacks involving attackers accessing and communicating over these ports brought about high losses, meaning those defenses weren't air-tight or were being neglected.

In the meantime they've been able to demonstrate to companies that sensitive cyber attack data can be shared and used without being actually being disclosed.

"Many of the target firms for this multi-party computation were interested in participating, but they wanted to see the results of the first computation before contributing their own data. From a cybersecurity standpoint, this represents a new opportunity to create new cybersecurity aggregation pools with greater reach and precision than ever before."

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