Feeds

Code Red hysteria – $8.7bn in damage estimated

Here comes the charade of quotes

  • alert
  • submit to reddit

Website security in corporate America

Countdown to Armageddon The Reuters wire service is reporting that Code Red has already cost an estimated $1.2 billion in damage, and may top out at an incredible $8.7 billion when its bitter reign of destruction finally ends.

Citing one Michael Erbschloe, vice president of research at IT efficiency clearinghouse Computer Economics, Reuters reckons that the cost of patching systems and losses in worker productivity will skyrocket.

We hate to point out that patching systems is what IT staff do, so we don't quite see the dreadful loss of productivity here. One might as easily say that police lose productivity when they have to interrupt their doughnut runs by investigating crimes, or that doctors lose productivity when they have to abandon the back nine to treat patients.

And as for the cost of clearing the worm from an already-infected system, this is accomplished by re-booting. It's hard to imagine billions going down the drain here, either.

Erbschloe previously estimated the damage from the Love Bug at $8.7 billion and the damage from the Melissa virus at about $1 billion. "In my opinion, $8.7 billion [in damage from Code Red] is not ludicrous," Reuters quotes him as saying.

And thus Reuters got the sensationalist quote they wanted from an 'expert'. ®

Protecting users from Firesheep and other Sidejacking attacks with SSL

More from The Register

next story
Early result from Scots indyref vote? NAW, Jimmy - it's a SCAM
Anyone claiming to know before tomorrow is telling porkies
Home Depot: 56 million bank cards pwned by malware in our tills
That's about 50 per cent bigger than the Target tills mega-hack
Hackers pop Brazil newspaper to root home routers
Step One: try default passwords. Step Two: Repeat Step One until success
UK.gov lobs another fistful of change at SME infosec nightmares
Senior Lib Dem in 'trying to be relevant' shocker. It's only taxpayers' money, after all
Critical Adobe Reader and Acrobat patches FINALLY make it out
Eight vulns healed, including XSS and DoS paths
Spies would need SUPER POWERS to tap undersea cables
Why mess with armoured 10kV cables when land-based, and legal, snoop tools are easier?
TOR users become FBI's No.1 hacking target after legal power grab
Be afeared, me hearties, these scoundrels be spying our signals
Blood-crazed Microsoft axes Trustworthy Computing Group
Security be not a dirty word, me Satya. But crevice, bigod...
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.