ATDS - Data443 Risk Mitigation Inc. (ATDS) Seeks to Capitalize on Expanding Data Protection Market
- With over 500 million ransomware attacks in 1H2021, corporations have been increasingly looking for ways to safeguard their internal IT systems
- The need for data protection has been further heightened by increased regulatory scrutiny from foreign and domestic governmental agencies
- In the U.S., the recently passed Federal ADPPA privacy law will coincide with California’s Consumer Privacy Act, with the latter set to come into effect on January 1, 2023
- With a broad toolkit focused on data security and management, Data443 have sought to capitalize on the expanding global need for data protection services
Towards the beginning of May 2021, U.S. fuel prices started to unexpectedly spike. The Colonial Pipeline company, operator of a systemically crucial 5,500 mile long pipeline engaged in transporting fuel from the Gulf Coast to the New York metro area was shut down, suspending the flow of over 100 million gallons of fuel every day between Texas and New York (https://ibn.fm/YoGfq). In ensuing days, news would break that DarkSide, an emerging hacking consortium had held the company’s IT systems hostage – freezing its data and threatening to leak sensitive corporate information online. Colonial Pipeline would go on to pay a ransom of $2.3 million or 63.7 bitcoin at the time. Whilst dramatic in nature, the Colonial Pipeline ransomware attack was just one of nearly 500 million ransomware attacks taking place in the first half of 2021, a clear illustration of the need for corporations to engage in more robust cyber security efforts going forward.
Focusing in on data security and a privacy-forward methodology, Data443 Risk Mitigation (OTC: ATDS) has emerged as a key player within the cyber security arena, strategically positioned to benefit from increased demand for data protection with its portfolio of software solutions, allowing for a...
NOTE TO INVESTORS: The latest news and updates relating to ATDS are available in the company’s newsroom at http://ibn.fm/ATDS
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