The IT guys at Change Healthcare had expected just another normal day at the office... By "normal," it meant fending off small cyberattacks every 70 seconds.

A Text Message Could Save You From Financial Disaster By Marc Chaikin, founder, Chaikin Analytics The IT guys at Change Healthcare had expected just another normal day at the office... By "normal," it meant fending off small cyberattacks every 70 seconds. You see, Change is a critical cog in the U.S. health care system. It's a subsidiary of health insurance giant UnitedHealth (UNH). And it's one of the country's largest health care payment and data-exchange companies. Change stores data on tens of millions of Americans. It also processes billions of dollars in medical claims annually. That makes Change's stored data a treasure trove for hackers. And for Change's IT crew, February 21, 2024 turned out to be much more than just a normal day... A small team of techs noticed something strange. There was a spike in failed login attempts on Change's remote access system provider, Citrix. Failed login attempts are when a user enters the wrong username or password. But when they happen in large numbers, it usually means hackers are trying to access the system. Initially, the IT specialists monitored the uptick in failed login attempts. These weren't getting through. So they shrugged off the threat as just another routine attempt to hack the system. But they were wrong. And they should have taken better precautions... Recommended Links: AIRING AT 10 A.M. EASTERN TIME: 'The 21st Century's Greatest AI Investment Opportunity' Two financial legends are making the same big prediction for June 2. A new AI stock could make you 1,000% with a chip 50 times faster than Nvidia's. Watch them unveil and demonstrate a historic AI breakthrough that could soon replace the Magnificent Seven, cause a bigger crash, and create a new order in the market. See it here (includes three free recommendations). The Tiny Device Powering a $16 Trillion Revolution Is this tiny piece of hardware the key to unlocking what could be the most lucrative economic opportunity of our lifetime? This could change the way you eat, sleep, work, and live – starting as soon as May 31. And it all comes down to an unassuming device smaller than a can of soda. Get the story here – before it goes viral and your window of opportunity slams shut. A Colossal Data Breach A Russian-based ransomware group called BlackCat was hacking the system. BlackCat had already become famous for hacks using stolen user credentials. It had been credited for dozens of attacks since first surfacing in 2021. BlackCat was able to find stolen Change user credentials on the dark web. Within just hours, things got crazy. As soon as BlackCat got into the system, it quickly deployed malicious software. Company employees were immediately locked out of their computers. Even the tech-savvy guys at the IT department couldn't gain access. Then the real stealing began... You see, BlackCat had encrypted and seized more than 6 terabytes of data on 190 million victims. This included personal medical records, payment histories, military affiliations, and Social Security numbers. The attack disrupted payment and claims processing across the country. It also interfered with folks' ability to use the system to file claims and get paid. BlackCat gave Change an ultimatum. It demanded a ransom of $22 million in bitcoin. If Change didn't pay up, it wouldn't be able to get access back to the seized data. To make things worse, the hackers also threatened to sell the data on the dark web. Change had little choice. In a few days, it paid the ransom. To limit the damage, Change disconnected major parts of its operations. The company needed to make sure there were no other threats to the system. But Change didn't lose just $22 million... Including damages to operations, rebuilding the system, and settlement of class action lawsuits, UnitedHealth said that the hack cost more than $3 billion. That's a big hit. The Change hack is the largest health care data breach in U.S. history. However, the massive hack could have been avoided. Change was missing a basic security feature... The Importance of Multi-Factor Authentication I'm talking about multi-factor authentication ("MFA"). It's a type of identity and access management service that requires more than one way to authenticate a user. You've probably come across MFA before. But let me briefly break it down a bit... Most of us are used to accessing our e-mails or subscriptions online with a username and password – and that's it. But experienced hackers often find ways to crack even the strongest passwords. Data breaches happen more often than we realize. And billions of usernames and passwords are available for criminals to buy on the dark web. That's why we sometimes get warning messages from our e-mail or subscription providers. They warn us to check our saved passwords. MFA adds a layer of security to passwords that makes it difficult for hackers to compromise. With MFA, you first have to enter a username and password. But this doesn't get you into the system yet... For most types of MFA, you'll then be asked to enter a code sent to your cellphone. This code could come from a text message or be generated from an authorized app. Some MFA features go even further. With the growing use of facial recognition in smartphones, users can be required to scan their face. Others ask for a fingerprint scan. The logic with MFA is that a hacker might be able to gain access to your username and password. But unless they also have physical possession of your smartphone, it's hard for them to read a text sent to you. This is why MFA has become the standard in cybersecurity. It's a must-have for any business or service dealing with consumer data. And it's important in your personal life, too. That's especially true for your e-mail, banking, and investing-account logins. Keep in mind that many websites and accounts still treat MFA as "optional." They give users the choice to turn it on. Many folks skip this essential tool. After all, it adds one more step to logging in. And with so many accounts and subscriptions that we all have nowadays, taking extra time to log in can feel like a hassle. But in today's increasingly online world, you must protect yourself. MFA makes it harder for criminals to steal your data. And you especially don't want them to access your e-mail, banking, or investing accounts. Taking that extra step can save you from financial disaster. Good investing, Marc Chaikin Market View Major Indexes and Notable Sectors     # Hld:     Bullish     Neutral     Bearish Dow 30 -0.25% 9 15 6 S&P 500 -0.34% 126 267 106 Nasdaq -0.33% 30 59 11 Small Caps +0.05% 471 946 469 Bonds -0.72% — According to the Chaikin Power Bar, Small Cap stocks and Large Cap stocks remain somewhat Bullish. Major indexes are mixed. *  *  *  * Sector Tracker Sector movement over the last 5 days Utilities +3.92% Consumer Staples +3.33% Health Care +2.15% Real Estate +1.92% Industrials +1.75% Communication +1.46% Materials +1.2% Financial +0.51% Information Technology +0.45% Consumer Discretionary +0.35% Energy -2.54% *  *  *  * Industry Focus Regional Banking Services 51 85 4 Over the past 6 months, the Regional Banking subsector (KRE) has underperformed the S&P 500 by -10.27%. However, its Power Bar ratio, which measures future potential, is Very Strong, with more Bullish than Bearish stocks. It is currently ranked #3 of 21 subsectors and has moved up 1 slot over the past week. Top Stocks ABCB Ameris Bancorp AX Axos Financial, Inc. ASB Associated Banc-Corp *  *  *  * Top Movers Gainers MRNA +6.06% DLTR +4.63% DG +4.09% HUM +3.22% D +3.2% Losers FICO -8.11% SMCI -4.51% AES -4.01% NCLH -3.91% TPL -3.48% *  *  *  * Earnings Report Earnings Surprises AS Amer Sports, Inc. Q1 $0.27 Beat by $0.11 HD The Home Depot, Inc. Q1 $3.45 Missed by $-0.14 PANW Palo Alto Networks, Inc. Q3 $0.80 Beat by $0.03 KEYS Keysight Technologies, Inc. Q2 $1.70 Beat by $0.05 *  *  *  * You have received this e-mail as part of your subscription to PowerFeed. If you no longer want to receive e-mails from PowerFeed, click here. You're receiving this e-mail at indra21poetra@gmail.com. For questions about your account or to speak with customer service, call +1 (877) 697-6783 (U.S.), 9 a.m. - 5 p.m. Eastern time or e-mail info@chaikinanalytics.com. 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