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Cyber Resilience In Cyprus Tested By Rising Cyberattacks

Escalating Cyber Threat Landscape

Recent nationwide surveys conducted by the Communications Commissioner and the Digital Security Authority reveal that cyberattacks in Cyprus are not only frequent but are intensifying. Over the past 12 months, one in three individuals and more than half of businesses reported experiencing a cyber incident, highlighting growing pressure on digital security systems.

Business Under Siege

A survey of 459 companies across multiple sectors, conducted between September and November 2025, found that 53% experienced a cyberattack or data breach within the past year. The figure marks an increase from 47% in 2024 and 49% in 2023.

On average, businesses reported one cyberattack every eight days, compared with one every 10 days a year earlier. Among affected companies, 51% reported financial losses averaging €12,000, slightly lower than previous results.

Phishing remains the most common attack method, accounting for 44% of incidents. Although the share has declined slightly, 75% of companies said phishing was the most recent form of attack they encountered.

The survey also found gaps in preparedness. Nearly one in four organizations had not updated cybersecurity policies in more than a year, while only 22% participated in cybersecurity training initiatives in 2025. Companies that invested in training reported stronger defensive outcomes.

Individual Vulnerability

A separate survey of 1,043 individuals conducted between August and September 2025 showed that people faced an average of 25.9 cyberattack attempts during the year, slightly below previous levels.

Around one-third of respondents said they had been affected by a cyber incident, with 17% reporting financial losses averaging €141. The 35–44 age group recorded the highest financial impact, marking a shift from earlier trends that showed higher exposure among younger users.

Phishing remained the leading attack method for individuals, representing 22% of incidents.

Despite widespread exposure to cyber risks, awareness levels remain limited. Among respondents who had not experienced an attack, 89% said they were uncertain about their future online safety. In addition, 74% were unaware of available cybersecurity training programs.

Those who attended seminars reported practical changes, including stronger password practices, regular updates, and increased caution when interacting with unfamiliar online environments.

Strengthening Cybersecurity Measures

In response, the Digital Security Authority plans to expand educational outreach through seminars and awareness campaigns aimed at both businesses and individuals.

The initiative is designed to strengthen cybersecurity resilience across Cyprus as organizations and consumers face a growing volume of digital threats.

Bitcoin Surges 23% In A Week As Investor Optimism Returns

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

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