Another Cyber Breach And This Time Its From Adobe Systems Inc. (NASDAQ:ADBE)

Posted by Lynn Eisler November 8, 2013 0 Comment 1775 views

A computer security firm recently claimed the possibility of one of the largest cyber breach that belongs to about 152 million Adobe Systems Inc. (NASDAQ:ADBE) user accounts. This claim certainly dictates that the breach reported about a month ago could be far bigger than Adobe has possibly disclosed. Last week, Adobe mentioned that attackers had stolen data on 38 million customer accounts, in addition to its disclosure of information theft on 3 million accounts, disclosed a month ago. Adobe also confirmed that the password security firm, LastPass had found records stolen from its data center, but it downplayed the importance of LastPass’ findings.

On Thursday, LastPass announced to have found email addresses as well as password hints stored in clear text and encrypted passwords from Adobe user accounts. The security firm reported these to be found on an underground website frequently accessed by cyber criminals. These newer findings from security firm clearly direct that Adobe breach could be certainly bigger than potentially disclosed or previously known.

However the company spokeswoman, Heather Edell commented that it would not be accurate to believe in breach of 152 million accounts as the database attacked was backup system, about to be decommissioned. Ms. Edell added that records typically include some 25 million records with invalid email addresses and approximately 18 million invalid passwords. Moreover most of the accounts were set up for one time use, to get free software or other perks.

The largest cyber breach earlier reported was an attack on bankcard payment processing service provider, Heartland Payment Systems, Inc. (NYSE:HPY) back in 2009. In that breach, over 130 million credit card numbers were theft, mentioned Privacy Rights Clearinghouse data. Heartland Payment paid over $140 million in settlements and fines of which much was offset through insurance. In another notorious attack, hackers accessed over 100 million accounts in 2011 from the Sony PlayStation Network.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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