Multibillion Dollar worry as yet another technology giant gets hacked

With the latest news of a security breach at technology giant Yahoo, more focus than ever has been placed on the security of information on the internet which could become a significant problem.

Hackers appear to have breached a Yahoo Voice server and posted around 453 000 user accounts and passwords online.

D33Ds Company, a hacking group, made a file available on Wednesday with the credentials visible in plaintext. Speaking after the incident, a spokesperson for the group said:  “We hope that the parties responsible for managing the security of this sub-domain will take this as a wake-up call, and not as a threat.”

If this group was able to hack Yahoo voice to access this information what is stopping them from hacking other Yahoo platforms?

This comes soon after Google was found guilty of breaching security on internet browsing tool Safari which compromised the security and information of a number of users in a similar way than the Yahoo breach.

Is this a new form of cyber terrorism? What will the implications be if hackers continue to have the free reign on the internet that they currently have?

Research shows that $820-billion worth of business is done over the internet every day (of which $39.7-billion is done in the US alone) in the form of making online purchases. This excludes the number of users (65% of the world’s population) which make use of online banking forums.

It has the potential to have serious implications on society which is putting not only social security numbers on line, but credit card details that hackers will have free access to. The public will begin to trust the internet less and the knock on effects would be similar to that if you suggested that the public start keeping their money at home rather than in the banks.

The Federal Trade Commission was very outspoken when handing down the $22.5-million fine on Google after their security breach saying that it was more about the precedent than the actual fine. It they  will be interesting to see the fines imposed on D33Ds. Putting a stop to hackers that hack the internet just to prove a point is the only way to putting a stop to the destruction of the public’s faith in using the internet as a platform to do business.

No comments yet

Leave a Comment

2016 . All rights reserved.