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Be informed about the latest WooCommerce CVE MAR 2024 Threat Case Study, identified and reported publicly. It is a +19% INCREASE compared to previous month, as specifically targeted e-Commerce vulnerabilities. Consider for your online safety, a managed WP/Woo security AUDIT, – OR – switching with a TOP10LIST alternative WP Security Plugin - OR - Hire professionals for managed services for your eshop.
What is WooCommerce CVE MAR 2024?
TLDR: the details on how to hack a specific software is made public, forcing the vendor to provide a solution (patch or upgrade), that closes that specific WooCommerce vulnerability. CVE is short for Common Vulnerabilities and Exposures. The Common Vulnerabilities and Exposures (CVE) system provides a reference method for publicly known information-security vulnerabilities and exposures. Read more on wikipedia.org: Common Vulnerabilities and Exposures, Common Vulnerability Scoring System, Common Weakness Enumeration.
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If you are serious about your business running an online shop, then you need to pay attention because your WooCommerce is the most crucial factor where disaster hits your customers. In this post, we will share all the latest WooCommerce Vulnerabilities to help you prevent your eshop from revenue loss and angry shoppers backlash. The following cases made headlines PUBLICLY just last month in the WooCommerce CVE MAR 2024 category:
WooCommerce CVE & Woo Common Vulnerabilities and Exposures reported in 2023:
609
WooCommerce CVE & Woo Common Vulnerabilities and Exposures reported in 2024:
81
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Fast forward 2-3 years: your business is on autopilot, yet you are in control. Your website is humming along, leads & customers are rolling in.
There hasn’t been a crisis or “website emergency” in ages, and all your charts are pointing up and to the right. Whimsical? The future is already here. Step into your future today.
Running an online store pays you dividends beyond just having a good night’s sleep, knowing your customers will find your shop working from early morning to late midnight. The competition online is stiff, and many shoppers are looking for ways to get the best deals.
Any eshop module crash blocks shoppers and owners immediately. Downtime always has a per hour cost! As soon as your automated selling degrades or crashes, you start losing money. This is the revenue you forfeit every hour you’re down.
Are you able to prevent this? Maybe you depend on a non-existent lifeline!
WHY IS THE COST OF DOWNTIME CRUCIAL?
Cost of Downtime (per hour) = Revenue Loss + Productivity Loss + Recovery Cost + Intangible Cost (e.g. reputation, trust) + Aftermath Cost.
REVENUE LOSS
When your online shop is down, it will not be able to generate sales or revenue. The sad part is that online, your customers immediately go to your competition. This hits hard in the long run of any business.
PRODUCTIVITY LOSS
During downtime, employees get forced to stop working or have to shift to non-revenue-incurring activities, like getting systems back online, or even worst: just simply wait till it's all back online. So, the cost of downtime increases because salaries, which are fixed costs, will be paid regardless of how much work gets done in those hours.
RECOVERY COST
The cost of downtime is not the only number to consider. Disaster recovery and resuming normal business operations can be costly as well. When outside help needs to be involved, as soon as possible, then whatever that help is, it is a pricey intervention. Also, there is no time to negotiate, as pressure builds each hour being offline.
INTANGIBLE COST
When your reputation suffers, your business suffers. Even the slightest downtime can have a significant impact on your customer's trust to shift them to your worst nightmare: jumping ship to your competition.
AFTERMATH COST
Unfortunately, the costs keep accruing even after your store is working again. At a minimum, online experts (developers, system engineers, hosting support staff) need to find the root cause, solve it and implement safeguards against future outages. Again a new costly adventure, with an urgency pressure on it.
What is Vulnerability Knowledge?
As time passes, vulnerabilities are discovered in your plugins, theme and the version of WordPress core you are using. Those vulnerabilities (or Security holes) ALWAYS become public knowledge sooner rather, than later.
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