Cyber Risk Assessment and Mitigation Using Logit and Probit Models for DDoS attacks
Kalpit Sharma, Arunabha Mukhopadhyay · Journal of the Association for Information Systems · 2020
Hackers have been employing Distributed Denial of Service (DDoS) attacks at an unprecedented rate in recent times. In 2018, a 37% rise in such DDoS attacks, wherein traffic reached a peak size of 300 Gbps per attack was alarming. DDoS attacks hinder a business by preventing legitimate customers from accessing the firm’s cyber resources (e.g. website, cloud services, streaming quality, etc.). In this study, we aim to assess and mitigate cyber-risk by computing the probability of such DDoS attacks occurring and expected losses associated with them. We use logit and probit models along with standard distribution fitting methods to ascertain the aforesaid questions. Subsequently, we also suggest ways to mitigate cyber-risk resulting due to DDoS attacks by accepting, reducing or passing it. Our study aims to aid CTOs in deciding the best strategy to handle cyber-risk due to DDoS attacks.