5 Types of Hackers: Potentially Threats for Business Cybersecurity

As organizations rely more on technology to store sensitive data, conduct transactions, and communicate, they become more vulnerable to cyber threats - particularly from hackers, who exploit frailties, disrupt operations, and cause financial and reputational damage. According to Statista, over 72% of businesses were targeted by hackers worldwide by 2023. However, not all hackers are the same; their motives, methods, and targets vary widely. To protect against cyber threats, businesses must understand the different types of hackers, their tactics, and how to defend against them. Therefore, we will discuss here five main types of hackers, how they impact business operations, and what can be the role of third-party cyber security services in mitigating these risks. 
 

Types of Hackers

Corporate Espionage Hackers

Corporate espionage hackers use cyber espionage to steal sensitive corporate data, trade secrets, proprietary technology, and strategic business plans. These hackers typically operate on behalf of competitors, state-sponsored entities, or financially motivated cybercriminal organizations. Their primary goal is to gain a competitive edge or disrupt business operations.

Corporate espionage is often executed through:

1. Phishing and Spear Phishing Attacks: Targeted email scams to gain access to internal systems.

    

2. Malware and Spyware Deployment: Infecting systems to steal credentials and exfiltrate data.

    

3. Insider Threats: Employees coerced or bribed into leaking confidential information.

    

4. Zero-Day Exploits: Taking advantage of undisclosed vulnerabilities in corporate software.

Notable Example:

Chinese-backed hacking groups like APT10 have been implicated in stealing intellectual property from Western corporations, particularly in the technology and defense sectors.
 

Ransomware Groups

Another popular type of hackers are Ransomware groups. These cybercriminal organizations use malicious software (ransomware) to encrypt a victim's data and demand a ransom in exchange for decryption keys. These groups have evolved from small-scale operations to sophisticated ransomware-as-a-service (RaaS) models, where they sell or lease ransomware tools to affiliates.

Common attack methods include:

1. Phishing Emails: These deliver malicious attachments or links to infect systems.

    

2. Remote Desktop Protocol (RDP) Exploits: Gaining unauthorized access to systems.

    

3. Supply Chain Attacks: Infecting widely used software to spread ransomware.

    

4. Double Extortion: Stealing data before encryption and threatening to leak it if the ransom is unpaid.

Notable Example:

The REvil ransomware group targeted global businesses, demanding multimillion-dollar ransoms from victims like JBS Foods and Kaseya.
 

Business Email Compromise (BEC) Fraudsters

Business Email Compromise (BEC) fraudsters specialize in financial cybercrime by impersonating executives, vendors, or employees to trick companies into transferring large sums of money. Unlike traditional cyberattacks that rely on malware, BEC attacks are social engineering-based and exploit human trust.

Common techniques include:

1. CEO Fraud: Impersonating a high-level executive to authorize fraudulent wire transfers.

    

2. Invoice Manipulation: Posing as suppliers to redirect payments to fraudulent accounts.

    

3. Email Account Compromise: Hacking legitimate email accounts to launch scams.

    

4. Domain Spoofing: Creating lookalike email domains to deceive employees.

Notable Example:

In 2019, Toyota Boshoku Corporation lost $37 million after fraudsters manipulated emails to redirect payments to their accounts.
 

Supply Chain Attackers

Supply chain attackers infiltrate third-party vendors, software providers, or service suppliers to compromise a larger target. These attacks are highly effective because companies often trust their suppliers and do not scrutinize updates or services received from them.

The methods they use include:

1. Compromising Software Updates: Inserting malware into legitimate software updates.

    

2. Hardware Tampering: Embedding malicious code into components before shipment.

    

3. Third-Party Service Exploitation: Hacking vendors to access customer networks.

    

4. Credential Theft: Using compromised supplier credentials to infiltrate enterprise systems.
    

Notable Example:

The SolarWinds attack in 2020 compromised U.S. government agencies and corporations by injecting malware into an Orion software update, impacting thousands of organizations.
 

Cryptojackers

Cryptojackers use malicious code to hijack a victim's computer resources to mine cryptocurrency without consent. Unlike ransomware, crypto-jacking operates stealthily, consuming system resources without alerting the user. This results in slowed performance, increased power consumption, and hardware degradation.
 

Common crypto jacking methods:

1. Malicious Websites (Drive-by Mining): Embedding JavaScript-based crypto mining scripts in web pages.

    

2. Malware Infections: Installing cryptomining malware on devices via phishing emails or software downloads.

    

3. Cloud Cryptojacking: Compromising cloud services to mine cryptocurrency at scale.

    

4. IoT Exploitation: Infecting smart devices for distributed mining operations.

Notable Example:

In 2018, Coinhive, a cryptojacking script, was embedded in thousands of websites, secretly mining Monero from visitors' CPUs.
 

Role of Third-Party Cybersecurity Services in Mitigating Hacking Risks

Now that you have learned about the five main types of hackers and how they use sophisticated attack methods, businesses must implement a multi-layered defense strategy to fight against them. This is where third-party cybersecurity services are critical. Here’s a detailed discussion of their role:-
 

Expertise and Specialization

Cybersecurity is a complex and ever-evolving field that requires constant vigilance and up-to-date knowledge of emerging threats. Many organizations, particularly small and medium-sized enterprises (SMEs), lack the resources to maintain an in-house team of cybersecurity experts. Third-party providers fill this gap by offering access to highly skilled professionals who specialize in threat detection, vulnerability assessment, and incident response. Their specialized knowledge ensures that organizations can implement robust security measures tailored to their needs.
 

Advanced Tools and Technologies

Third-party cybersecurity services leverage cutting-edge tools and technologies that may be cost-prohibitive for individual organizations to acquire and maintain. These include advanced threat intelligence platforms, artificial intelligence (AI)- driven analytics, and automated monitoring systems. These tools allow third-party providers to identify and respond to potential threats in real-time, reducing the likelihood of successful hacking attempts. They can also conduct comprehensive penetration testing and vulnerability assessments to identify weaknesses in an organization’s infrastructure before attackers exploit them.
 

Proactive Threat Detection and Response

Hacking attempts often go unnoticed until significant damage has been done. Third-party cybersecurity services excel in knowing what hackers do, proactive threat detection, and using 24/7 monitoring and advanced analytics to identify suspicious activities early. They employ Security Operations Centers (SOCs) to analyze network traffic continuously, detect anomalies, and respond to incidents swiftly. 
 

Compliance and Risk Management

Many industries are subject to stringent regulatory requirements regarding data protection and cybersecurity. Third-party providers help organizations navigate these complexities by ensuring compliance with GDPR, HIPAA, and PCI-DSS standards. They also assist in developing risk management frameworks that align with industry best practices, reducing the likelihood of regulatory penalties and reputational damage resulting from a breach.
 

Cost-Effectiveness

Building and maintaining an in-house cybersecurity team can be prohibitively expensive, especially for smaller organizations. Third-party services offer a cost-effective alternative by providing scalable solutions suited to an organization’s budget and needs. This allows businesses to access enterprise-level security without the associated overhead costs.