Channel Brief: Delta Seeks Damages From CrowdStrike, Data Breach Costs Hit Record High

Good morning!

This Tuesday morning, CNBC reports that Delta Air Lines hired prominent attorney David Boies to seek damages from CrowdStrike and Microsoft for the outage that cost Delta an estimated $350 million to $500 million. Insurance startup Parametrix estimated that the CrowdStrike incident resulted in a total loss of $5.4 billion.

Speaking of costs, IBM's most recent Cost of Data Breach report showed the average cost of a data breach in 2024 has hit a record -- $4.88 million, a 10% jump over 2023. Acronis's biannual cyberthreats report, the Acronis Cyberthreats Report H1 2024, showed that email attacks surged by 293%, and revealed new ransomware groups emerging. PagerDuty is building out its generative AI capabilities and Lakera raised an additional $20 million to advance generative AI security.

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Grab your coffee. Here's what you need to know today.

Today’s Tech, Channel and MSP News

1. Delta Seeks Damages From CrowdStrike, MSOFT: According to CNBC reporting, Delta Air Lines has hired prominent attorney David Boies, chairman of Boies Schiller Flexner, to seek damages from CrowdStrike and Microsoft following this month's massive IT outage ... While no suit has been filed, Delta plans to seek compensation from Microsoft and CrowdStrike, CNBC reported. The outages cost Delta an estimated $350 million to $500 million, and insurance startup Parametrix estimated that the CrowdStrike incident resulted in a total loss of $5.4 billion for Fortune 500 companies, not including Microsoft.

2. IBM's Cost of Data Breach Report Shows Record High $4.88M Cost: The average cost of data breaches in 2024 has hit a record high of $4.88 million, up 10% from 2023, according to IBM’s annual 2024 Cost of a Data Breach report. As SiliconAngle reported, the research, now in its 19th year, also found that 70% of breached organizations said a breach caused significant or very significant disruption. Many organizations struggled with understaffed security teams, which added an additional $1.76 million in breach costs versus companies with low-level or no security staffing issues. Check out the full report here.

3. PagerDuty Expands Advance GenAI Capabilities:  PagerDuty announced it is building upon its previous generative AI capabilities with PagerDuty Advance (formerly PagerDuty Copilot). PagerDuty Advance includes AI-powered capabilities built to streamline manual work across the incident lifecycle, the company said in a statement, including PagerDuty Advance Assistant for Slack, PagerDuty Advance for Status Updates, PagerDuty Advance for Automation Digest, which is part of the Actions Log, PagerDuty Advance for Postmortems and AI Generated Runbooks.

4. Acronis Releases H1 2024 Threat Report: Acronis shared new research findings from the first half of 2024 in its biannual cyberthreats report by Acronis Threat Research Unit. The Acronis Cyberthreats Report H1 2024: Email attacks surge 293%, new ransomware groups emerge leverages over one million unique Windows endpoints from 15 key countries around the world to bring awareness to global trends in the cybersecurity industry. Most notably, the report found that email attacks have seen a 293% surge when compared to the same period in 2023. The number of ransomware detections were also on the rise, increasing 32% from Q4 2023 to Q1 2024. Check out the full report here.

5. Lakera Raises $20M for Generative AI Security: Generative AI security firm Lakera has raised $20 million in a Series A funding round, the company said in a statement. Led by European VC Atomico, with participation from Citi Ventures, Dropbox Ventures, and existing investors including redalpine, this investment brings Lakera's total funding to $30 million. This funding positions Lakera at the forefront of the global economy's race to secure generative AI applications. As part of this round, Atomico Partner Sasha Vidiborskiy will join Lakera's board.

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