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Typical ransomware attacks involve cybercriminals encrypting a victim's data and making it inaccessible unless a ransom is paid. However, newer techniques now include data extortion and denial-of-service attacks against the victim's network or website.

A report by software company SlashNext found that phishing attacks have skyrocketed by 4,151% since the release of generative Al tool ChatGPT in late 2022. This implies that attackers are leveraging technology to enhance their phishing campaigns.

A research study by global intelligence firm IDC found that 79% of companies surveyed suffered at least one cloud data breach in the past 18 months. To make things worse, 43% reported experiencing 10 or more.