Supply chain has become the new favourite target among hackers. 2021 saw a 639 million jump in cyber attacks compared to 2020, amounting to US$6 trillion in losses. From January to June 2021 alone, there were 1.51 billion IoT breaches. At the same time, it was found that 73% of companies globally are not prepared for cyber threats as hackers become more rampant and more creative in their pursuit.
Compared to typical IT systems, IoT devices have:
● 250,000x smaller memory
● 100x lower computing power
● 2000x lower bandwidth
Under this condition, most cyber-security solutions are not able to work, resulting in low or no security features. IoT devices hence, become the easiest point of attack in supply chains.