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“[That makes] it simple for hackers to cause damage or extract data before detection of a breach as in eBay’s case,” Smith said. “eBay discovered a database of consumer personally identifiable information or PII was compromised including encrypted passwords, emails, physical addresses, phone number, and date of birth.”
Although eBay downplayed the issue because passwords were encrypted, Smith said the information provides tremendous ammunition for the hackers to go after these individuals in both a consumer context and a professional context.
“Encrypted passwords won’t stand a chance when moved offsite to a hacker environment, and much of the personal data taken doubles as commonly used usernames or security questions for other accounts, essentially removing 75 percent of the security barriers that Web sites put up,” Smith said. “And those who have changed their passwords are not exempt, password reuse is an epidemic.”
Smith is certain of one thing: If the database was successfully harvested from eBay, these hackers will identify high-value targets and execute scripts to cross reference databases across the Internet to ultimately discover inroads to other online accounts or networks for their own gain.
“The best thing those affected can do is change the passwords of any sites reusing that of eBay and implement two-factor authentication on their accounts,” he added.
Posted: 2014-06-13 @ 8:53am PT
It's just not true that financial information wasn't compromised in the hacking. Two days before Ebay went public with the hacking, I was asked to verify my credit card information while attempting to change my password online (before the announcement that we should all change them). When I called Ebay with problems, using the number on a screen which itself may have been a con, a guy asked me for verifying info about my identity. Things like the color of my vehicle, home purchase info, etc that I was surprised that Ebay even had. After the announcement, I realized I needed to cut off the credit card because it absolutely was involved. Companies should be completely honest and transparent, instead of primarily focused on dividends. They will get more dividends if they are honest about their faults, limitations and breaches.
Posted: 2014-05-23 @ 7:09am PT
Interesting article. Though customer data is encrypted forcing them to reveal sensitive information will risk opening them up to identity theft, moreover requiring users to provide secondary security information like answers to secret questions can be avoided which limits the user data that's been exposed. I work for McGladrey and there's a whitepaper on our website that offers good information on our website that readers of this article will be interested in @ http://bit.ly/1c0f35M