CyberCatch Announces "HackOps", a Proprietary Next-Gen Enterprise Cybersecurity Training Solution

Rhea-AI Summary

CyberCatch Holdings, Inc. (TSXV: CYBE) has unveiled 'HackOps', a next-gen enterprise cybersecurity training solution. This innovative product addresses the $5.6 billion global cybersecurity awareness training market, targeting the 74% of data breaches caused by human errors. 'HackOps' is part of CyberCatch's CyberSavvyIQ series, offering a unique virtual reality learning experience that teaches users to 'think like an attacker'.

The solution simulates real-world cyberattack scenarios, covering reconnaissance, spear phishing, vulnerability exploitation, and ransomware installation. Compatible with various VR headsets and desktop platforms, 'HackOps' aims to transform learners into strong human firewalls. With the cybersecurity training market projected to reach $10 billion by 2027, CyberCatch is positioning itself to capture significant revenue in this growing sector.

Positive

• Entering the $5.6 billion global cybersecurity awareness training market
• Innovative VR-based training solution addressing human error in cybersecurity
• Potential for significant revenue growth in a market projected to reach $10 billion by 2027

Negative

• None.

Vancouver, British Columbia and San Diego, California--(Newsfile Corp. - July 30, 2024) - CyberCatch Holdings, Inc.  (TSXV: CYBE) ("CyberCatch'' or the "Company"), an innovative cybersecurity company offering an AI-enabled platform solution for continuous compliance and cyber risk mitigation, is pleased to announce its proprietary next-gen enterprise cybersecurity awareness training solution for small to large organizations globally.

According to Cybersecurity Ventures, approximately $5.6 billion is spent on cybersecurity awareness training globally, and yet according to Verizon's Data Breach Investigations Report (DBIR) 74% of data breaches are due to human errors.

Data breaches and ransomware attacks are extremely costly. According to IBM's Cost of a Data Breach Report, globally average cost of a data breach is $4.5 million, while the average cost of a ransomware attack is $5.1 million to an organization, not including ransom payments. According to Chainalysis, over $1.1 billion was paid out in ransom payments in 2023.

Current cybersecurity awareness training solutions are rudimentary, not very engaging, ineffective, and are not providing a return on investment.

CyberCatch's "HackOps" a Cybersecurity Learning Game is a unique, virtual reality next-generation cybersecurity education and awareness training solution as part of its CyberSavvyIQ series for the enterprise that teaches the learner to "think like an attacker so they can defend like the chess master."

It is based on recent blockbuster cyberattacks, data breaches and ransomware attacks globally, and combines best of both worlds (movies and games) to provide a memorable learning experience that is beyond the basics, extremely engaging and fun, and highly effective to transform the learner into a strong human firewall.

The learner acts as a "newbie hacker" and learns how:

• Hackers do reconnaissance
• Spear phishing is crafted and executed
• Front-door Internet-facing IT assets vulnerabilities are exploited
• Third-party vulnerabilities are exploited to break in from the back door
• Data is exfiltrated and ransomware is installed and what could have prevented the harm from occurring
• Unknown back doors are left behind and why

Through the process of gamification "HackOps" can be played using VR headsets such as Meta Quest, Oculus, Pico, among others, or even using a desktop or laptop, and have the same immersive, memorable learning experience.

"CyberCatch's "HackOps" immerses the learner in a non-technical way and teaches how cyber attackers think and behave, so that the learner does not commit mistakes that enable or facilitate data breaches and ransomware attacks. We are positioned to transform cybersecurity training enterprise-wide and deliver an exponential return on the investment for effective risk mitigation," said Sai Huda, CEO, CyberCatch.

"According to Cybersecurity Ventures, the Cybersecurity training market is projected to grow from $5.6 billion to $10 billion by 2027, based on 15 percent year over year growth. CyberCatch is poised to break into this adjacent market and generate significant revenues," said Huda.

To watch a demo of CyberCatch's solution, visit: https://cybercatch.com/cybersavvyiq

About CyberCatch
CyberCatch Holdings, Inc. (TSXV: CYBE) provides a proprietary, AI-enabled Software-as-a-Service (SaaS) solution that provides continuous compliance and cyber risk mitigation to organizations in critical segments, so they can be safe from cyber threats. The CyberCatch platform focuses on solving the root cause of why cyberattacks are successful: security holes from control deficiencies. It first helps implement all mandated and necessary controls, then the platform automatically and continuously tests the controls from three dimensions (outside-in, inside-out and social engineering) to find control failures so one can fix them promptly to stay compliant and safe from attackers. Learn more at: https://www.cybercatch.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Investor Relations
Phone: 1-866-753-2923
Email: info@cybercatch.com

SOURCE CyberCatch

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218201

FAQ

What is CyberCatch's new cybersecurity training solution called and what does it offer?

CyberCatch's new solution is called 'HackOps'. It's a next-gen enterprise cybersecurity training solution that uses virtual reality to teach users how to think like attackers and defend against cyber threats.

How does 'HackOps' by CyberCatch (TSXV: CYBE) differ from traditional cybersecurity training?

'HackOps' offers an immersive, gamified learning experience using VR technology. It simulates real-world cyberattack scenarios, providing a more engaging and effective training compared to traditional methods.

What is the market size for cybersecurity awareness training according to CyberCatch's (TSXV: CYBE) press release?

According to the press release, the global cybersecurity awareness training market is currently valued at approximately $5.6 billion and is projected to grow to $10 billion by 2027.

What percentage of data breaches are caused by human errors, according to CyberCatch's (TSXV: CYBE) announcement?

According to the Verizon Data Breach Investigations Report cited in CyberCatch's announcement, 74% of data breaches are due to human errors.