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Cyber Resilience In Cyprus Tested By Rising Cyberattacks

by THEFUTURE.TEAM

February 26, 2026

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.

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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.

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Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

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IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.