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This White Paper outlines how the ethical discourse on cybersecurity has developed in the scientific literature, which ethical issues gained interest, which value conflicts are discussed, and where the “blind spots” in the current ethical discourse on cybersecurity are located. The White Paper is based on an extensive literature with a focus on three reference domains with unique types of value conflicts: health, business/finance and national security. For each domain, a systematic literature search has been performed and the identified papers have been analysed using qualitative and quantitative methods. An important observation is that the ethics of cybersecurity not an established subject. In all domains, cybersecurity is recognized as being an instrumental value, not an end in itself, which opens up the possibility of trade-offs with different values in different spheres. The most prominent common theme is the existence of trade-offs and even conflicts between reasonable goals, for example between usability and security, accessibility and security, privacy and convenience. Other prominent common themes are the importance of cybersecurity to sustain trust (in institutions), and the harmful effect of any loss of control over data.