Managed Security Services Provider (MSSP) Market News: 27 March 2023

Each business day, MSSP Alert delivers this quick lineup of news, analysis and chatter from across the managed security services provider ecosystem.

A. Today’s MSSP, MSP, MDR, XDR and Cybersecurity Market News

1. Bug Bounty Program: KuCoin, a global cryptocurrency exchange, is partnering with cybersecurity company Hacken to launch a $1 million bug bounty program, which is the biggest bounty reward among crypto exchanges so far, the companies said. Meanwhile, a new Security Landing Page on the KuCoin website outlines its security practices and provides users with resources and tips to enhance their own account security.

2. Industry Recognition: Motorola Solutions has been named a “Leader” in the IDC MarketScape: Worldwide Video Security as a Service (VSaaS) 2022 Vendor Assessment. One of the most in-depth assessments of VSaaS providers, the IDC MarketScape recognizes Motorola Solutions’ comprehensive video security portfolio. These technologies will be on display at ISC West, March 29-31 in Las Vegas, Nevada.

3. Industry Recognition: Xcitium, an endpoint protection solutions provider, has been recognized by CRN with a five-star rating in its 2023 Partner Program Guide. The rating is awarded to the companies that go above and beyond in their commitment to nurturing successful channel partnerships.

4. Cybersecurity Awards Program: (ISC)², a nonprofit association of certified cybersecurity professionals, has opened nominations for its annual Global Achievement Awards. The (ISC)² Global Achievement Awards recognizes individuals' outstanding leadership, achievements and contributions in the cybersecurity field. Nominations are due by 11:59 p.m. ET on May 12.

5. Leadership Move: Electrosoft Services, a federal IT and professional services firm specializing in cybersecurity, has appointed Wes Postol as senior vice president of business development. Postol, a retired U.S. Army Chief Warrant Officer, has more than 30 years of experience in driving federal cybersecurity strategy and development. He will lead all business development activities, advancing the company's defense and civilian cybersecurity strategic initiatives.

6. Cybersecurity Competition: Trend Micro has announced the winners of its spring Pwn2Own competition held in Vancouver, British Colombia and sponsored by the Zero Day Initiative. Participants discovered 27 unique zero day vulnerabilities, helping vendors enhance the security of their products.

7. Ransomware Attack: Crown Resorts said on Monday a ransomware group had contacted the company, claiming that they had gained access to some files related to Australia's biggest casino operator following a data breach at file transfer service GoAnywhere. "We can confirm no customer data has been compromised and our business operations have not been impacted," a company spokesperson said. (Source: Reuters)

8. New Federal Cybersecurity Program: U.S. cybersecurity officials are unveiling a new program to warn American companies that their systems are vulnerable to ransomware attacks. The new federal program is needed because “the pace and the impact of (ransomware) intrusions are still unacceptable,” said Eric Goldstein, a senior official at the U.S. Cybersecurity and Infrastructure Security Agency (CISA). (Source: CNN)

9. Legislative Update: Senate lawmakers have introduced a legislative package to establish civilian cybersecurity reserve pilot programs within the U.S. Department of Defense and the Department of Homeland Security. The programs will support the federal government’s cyber resilience amid a national shortage of high-skilled cybersecurity personnel. (Source: NextGov)

B. Annual In-Person MSSP and Cybersecurity Conferences