Cyprus digital economy still exposed to major DDoS attacks

A major international crackdown on botnet infrastructure has failed to reduce cyber risks facing businesses in Cyprus, according to new data released by cybersecurity company Qrator Labs for the second quarter of 2026.

The report found that the largest distributed denial of service (DDoS) botnet monitored by the company shrank dramatically from 13.5 million devices in the first quarter of 2026 to 2.09 million devices in the second quarter, a decline that may reflect the impact of an international law enforcement operation.

According to the company, authorities in the United States, Canada and Germany disrupted infrastructure used by several major botnets, including the Aisiru and Kimwolf networks.

However, the report said the reduction in the size of the largest botnet did not translate into lower cyber risks, with attackers continuing to launch increasingly powerful assaults.

During the second quarter of 2026 alone, Qrator Labs mitigated 12 DDoS attacks exceeding one terabit per second (Tbps), twice as many as it handled during the whole of 2025.

The company said the figures demonstrate that dismantling parts of the global DDoS infrastructure does not necessarily reduce the scale of attacks faced by organisations.

The findings carry particular significance for Cyprus, where financial technology and iGaming have become important pillars of the country’s digital economy.

According to the report, the fintech sector accounted for 31.9 per cent of all DDoS attacks recorded worldwide during the second quarter of 2026, making it the industry’s biggest target.

More detailed data showed that payment systems accounted for 10.0 per cent of attacks, followed by banks with 9.5 per cent, betting shops with 9.0 per cent, trading platforms with 7.9 per cent, and gambling portals with 5.3 per cent.

The report also found that betting platforms were the target of the two largest DDoS attacks recorded during the quarter.

Those attacks peaked at 1.64 Tbps and 1.58 Tbps, with both also exceeding 500 million packets per second (Mpps).

Qrator Labs said the figures indicate that cybercriminals are adapting faster than expected and that businesses should not assume successful international law enforcement operations will automatically reduce their exposure to cyber threats.

“International efforts to dismantle botnet infrastructure are an important step forward, but they do not eliminate the threat for businesses,” said Qrator Labs chief technology officer Andrey Leskin.

“While there is demand for DDoS attacks, the supply will continue to exist,” he added.

What is more, Leskin explained that “the industries driving Cyprus’ digital economy, such as fintech and iGaming, remain among the most attractive targets for cybercriminals“.

“For organisations operating in these sectors, cyber resilience should be viewed as a core business requirement rather than simply an IT issue,” he concluded.