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Cybersecurity Under Siege: Cyprus Confronts Unprecedented DDoS Threats

Escalating Global Threats

Cybersecurity challenges are intensifying on the international stage as Distributed Denial of Service (DDoS) attacks surge, placing renewed pressure on critical digital infrastructure. A recent report from Qrator Labs indicates that the volume of application-layer DDoS attacks increased by 74 percent globally during the second quarter of 2025 compared to the same period in 2024. These sophisticated attacks mimic legitimate user requests to infiltrate web applications, making mitigation notably complex.

Implications For Cyprus

The escalating global threat comes at a time when Cyprus faces its own cybersecurity challenges. Recent alerts from groups such as the “Tunisian Maskers Cyber Force” have underscored the vulnerability of critical national infrastructure, suggesting that geopolitical or ideological motives may be at play. Historical incidents—including cyberattacks targeting the University of Cyprus, the Land Registry, and the Open University of Cyprus in early 2023—highlight the potential for significant operational and data disruptions.

Government Response And Strategic Investments

In response to these rising threats, the Cypriot government has recently allocated €8.5 million to enhance national digital defenses. Deputy Minister of Research Nicodemos Damianou has acknowledged that while considerable progress has been made, government entities still operate with fragmented security systems. Notable improvements include cyber defence updates for eleven critical infrastructures following the October 2024 attacks, and the strategic relocation of government servers after the 2023 flooding incident at the finance ministry.

The Rise Of Mega Botnets

Further compounding the threat landscape, Qrator Labs has identified what is being described as the largest-ever DDoS botnet, which now comprises 4.6 million infected devices—a scale nearly 20 times larger than observed in 2024. Andrey Leskin, Chief Technology Officer at Qrator Labs, warns that the sheer volume of malicious requests generated by such botnets can cripple online services, causing severe economic disruptions. He noted that many current DDoS protection solutions may be inadequate to counter an assault of this magnitude.

Preparing For Future Cyber Threats

To mitigate these escalating risks, industry experts advise organisations to refine their incident response strategies, invest in state-of-the-art DDoS mitigation solutions, and frequently test infrastructure resilience against cyber stress. As the digital landscape continues to evolve, proactive and coordinated defenses will be crucial in safeguarding both public and private sectors from the growing tide of cyber threats.

FinTech’s Dominance In MENA: Three Strategic Drivers Behind Unyielding VC Success

Despite facing tightening global liquidity and macroeconomic headwinds, the FinTech sector continues to assert its leadership in the MENA region. In the first half of 2025, FinTech emerged as the most resilient and appealing arena for venture capital investments, proving its worth as a catalyst for financial innovation and inclusion.

Addressing Structural Financial Gaps

In many parts of MENA, a significant proportion of the population remains underbanked and underserved by traditional financial institutions. FinTech companies are uniquely positioned to address these persistent challenges by bridging critical access gaps and driving financial inclusion. With the proliferation of payment apps, digital wallets, and micro-lending platforms, investors have witnessed firsthand how these solutions pave the way for scalable growth and eventual exits. Early-stage momentum in the region is underscored by a doubling of pre-seed deals year-over-year, reinforcing the sector’s capacity for rapid innovation and sustainable expansion.

Highly Scalable and Replicable Business Models

One of the key factors behind FinTech’s dominance is the inherent scalability of its business models. Once the necessary infrastructure and regulatory approvals are in place, these models have demonstrated robust performance across borders. The first half of 2025 saw a marked acceleration in deal activity, with payment solutions leading the charge with 28 deals in MENA—a significant increase over the previous year. Lending platforms, in particular, experienced a meteoric 500% year-over-year increase in funding, emerging as the fastest-growing subindustry. Such replicability makes FinTech an attractive proposition for investors seeking high-growth opportunities in diverse markets.

Supportive Regulatory And Government Backing

The strategic support offered by key government initiatives in the UAE and Saudi Arabia has been instrumental in propelling the FinTech sector forward. Progressive frameworks, such as the UAE’s open finance and digital asset directives, coupled with Saudi Arabia’s live-testing sandboxes, have materially lowered entry barriers for startups. These measures not only foster innovation but also streamline the path to commercialization. Consequently, the combined efforts of these regulatory bodies have enabled the UAE and Saudi Arabia to account for 86% of MENA’s total FinTech funding in H1 2025.

The resilience of FinTech in MENA is not merely a reflection of contemporary market trends—it signals a fundamental shift in the region’s economic fabric. With an unwavering commitment to addressing real financial challenges, scalable and replicable business practices, and robust regulatory support, FinTech is setting the benchmark for sustainable innovation. As capital markets become increasingly discerning, this sector stands out as a beacon of long-term growth and transformative impact.

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