The number of (disclosed) breaches is growing for sure, as well as the potential impact and severity. I couldn't point a finger at the "cloud era" as such, or at least not as a single reason. Sure, there is now a lot more information and a lot more services "up there", which simply means the target is larger, and therefore easier to "hit".
There is also a learning curve involved for IT pros, who are "used to" securing on prem solutions, as well as a level of ignorance from the business that thinks "it's fine, it's in the cloud, we don't need to worry about it".
And one of the bigger issues would probably be the speed of the IT/Security processes. In today's world it isn't easy to keep up with cyber criminals, who jump on vulnerable systems in the matter of hours or days, where IT need to follow testing/proving/patching that may take weeks.
Naturally, there are tons of different other reasons apart from the above, each worth an in depth conversation on their own.
Biting the hand that feeds IT
