Introduction
Distributed Denial-of-Service (DDoS) attacks continue to evolve in both frequency and intensity, posing significant threats to various industries. Gcore's latest DDoS Radar report, covering the third and fourth quarters of 2024, highlights a 56% year-over-year (YoY) increase in DDoS attacks. The largest recorded attack during this period peaked at an unprecedented 2 terabits per second (Tbps). While the gaming industry remains the primary target, the financial services sector experienced the most substantial surge, with a 117% rise in attacks. These findings underscore the growing necessity for advanced, adaptive mitigation strategies against increasingly sophisticated cyber threats.
The Rising Volume and Complexity of DDoS Attacks
The latest report reveals a 17% increase in the total number of DDoS attacks. Attackers are employing more advanced techniques, making traditional defense mechanisms insufficient. The growing reliance on digital services and the increasing accessibility of attack tools further contribute to this alarming trend.
Increased Threats to the Financial Sector
One of the most concerning revelations is the sharp rise in attacks on financial services. The sector witnessed a 117% growth in DDoS incidents, highlighting the urgency for enhanced security measures. Given the sector’s dependence on real-time transactions and regulatory compliance, attackers view financial institutions as lucrative targets for ransom-driven and disruptive attacks.
Evolution of Attack Strategies
Modern DDoS attacks are shifting toward shorter but more intense bursts. This approach enables cybercriminals to inflict maximum disruption while evading detection. Key developments include:
Shorter, High-Intensity Attacks: The longest attack recorded in Q3–Q4 2024 lasted only five hours, a significant reduction from 16 hours in the previous period.
Rise of ACK Floods: While UDP flood attacks remain the most common, accounting for 60% of all network-layer attacks, ACK flood attacks have increased to 7%. These attacks mimic legitimate traffic, making them harder to mitigate.
Application-Layer Attacks: L7 UDP floods comprised 45% of application-layer attacks, while L7 TCP floods rose to 37%, demonstrating attackers' growing focus on more sophisticated evasion tactics.
Impact of Geopolitical and Economic Factors
The report also underscores the role of geopolitical and economic tensions in shaping attack patterns. Political conflicts and financial incentives continue to drive targeted cyberattacks, particularly in high-risk regions. Understanding the origin and motivation behind these attacks can help organizations refine their defense strategies.
Gaming Industry Remains the Prime Target
Despite a decline in its overall share of total attacks—from 49% in Q3–Q4 2023 to 34% in the latest period—the gaming industry remains the most frequently targeted sector. Contributing factors include:
Financial incentives and competitive gaming pressures
High revenue impact from service downtime
Improved defenses prompting attackers to shift focus to other industries
Additionally, attacks on financial services have risen significantly, increasing their share from 12% to 26% of total incidents. Other industries, including media, retail, telecommunications, and technology, also reported notable attack activities.
The Largest Recorded Attack: A 2 Tbps Assault
The most significant attack during this period reached a peak of 2 Tbps, an 18% increase from the previous high of 1.7 Tbps recorded in Q1–Q2 2024. This attack targeted a major global gaming company, reinforcing the trend of high-impact strikes against real-time service providers. Although such large-scale attacks are often mitigated swiftly, their destructive potential continues to escalate, posing substantial risks to business continuity and financial stability.
Conclusion
Gcore’s latest findings confirm that DDoS attacks are becoming more sophisticated, frequent, and damaging. The dramatic rise in attacks on financial services and the gaming sector’s continued vulnerability illustrate the need for robust, adaptable security solutions. Businesses must adopt proactive measures, including advanced mitigation strategies, continuous monitoring, and geopolitical risk assessments, to safeguard their operations against the evolving cyber threat landscape.
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