With cyberattacks increasing each year, cyber defenders have their work cut out.
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The Betashares Global Cybersecurity Etf (ASX: HACK) is back in the spotlight today as yet another major cyber breach strikes the globe.
The exchange traded fund (ETF) offers ASX ETF investors exposure to 40 of the world’s leading cybersecurity shares.
Cisco Systems Inc (NASDAQ: CSCO) is HACK’s largest holding (6.7%), followed by Accenture Plc (NYSE: ACN) (6.3%) at number 2 and Crowdstrike Holdings Inc (NASDAQ: CRWD) (5.8%) at number 3.
So, what’s the latest hack we’re referring to?
Meat lovers…you may wish to look away
The latest hacking attack will come as particularly bad news to Aussie meat lovers, who could find themselves shelling out a good bit more for their next barbecue favourites.
As the Daily Mail Australia (via MSN) reports:
Australian authorities are part of an international hunt for cyber criminals who’ve shut down the nation’s largest meat and food processing company, JBS Foods. JBS facilities in other countries have also been hit in a cyber attack that could affect meat supply chains world wide.
JBS Foods has 47 facilities across Australia, which include feedlots and abattoirs.
Addressing the cyberattack on ABC Radio, Agriculture Minister David Littleproud said, “The technology they use goes to the heart of the quality assurance of the beef they are processing.”
While speculation is rampant, the perpetrators of the latest hack have not yet been officially identified.
Until the issue is resolved, thousands of Australian workers in the meat industry will be stood down without pay.
How has this ASX ETF performed?
Despite a sharp year-on-year increase in cyberattacks, HACK has underperformed the All Ordinaries Index (ASX: XAO) over the full year. In the past 12 months, the HACK share price is up 5% compared to a 24% gain on the All Ords.
Year-to-date, ASX ETF’s shares are down a slender 0.5%.
Longer-term, since its inception in September 2016, HACK shares have gained 73%, more than double the 35% gains made by the All Ords in that same time.
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