Impact of SolarWinds attack felt globally by companie

Seventy percent of companies in the U.S., U.K. and Singapore reported feeling the effect of the widespread SolarWinds hack, most of which felt a "slight impact," TechRepublic reports. IronNet's 2021 Cybersecurity Impact Report showed that companies spent $12 million on average, or 11% of their annual revenues, in the aftermath of the SolarWinds attack, with the highest impact reported among those in the U.S. The report also showed that 42% have adopted supply chain security changes following the attack and 81% reported having increased odds of sharing threat information with industry colleagues, while 67% and 50% began sharing more information with tech industry colleagues and government leaders, respectively. U.S. companies were less likely than those in Singapore to share information with governments, according to the report. Respondents cited data privacy and liability concerns, absence of automated or standard peer information sharing mechanisms, and the possibility of outdated shared information upon receipt of other companies.