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Cyberattack on Ebay Leads to Request For Users To Change Passwords

On Wednesday May 21st 2014, eBay alerted 145 million of its registered users to change their passwords after a cyber-attack compromised a database. 

The attack occurred from late February to early March but was only detected 2 weeks ago.  By compromising some employees’ login credentials, the hackers gained access to the company’s corporate network which contained encrypted passwords and data.

Key points you need to know about the attack:

  • The data accessed didn’t include financial data.   Passwords for users of eBay’s PayPal payments network weren’t exposed.  However, some PayPal users may use the same password as their eBay password.
  • Since the passwords are encrypted, the hackers didn’t access the user’s actual password but garbled text.  This would indicate the passwords are unusable for now. 
  • There is no evidence that customer financial information was compromised and eBay’s extensive tests showed no evidence of unauthorized activity for users and evidence of access to financial or credit card information.
  • The eBay database includes email addresses, physical addresses, phone numbers and dates of birth.

This attack follows a number of recent cyber-attacks on companies including Target.[1]

Derek May

HUB International TECHNOLOGY

D: (604)331-5464

E: derek.may@hubinternational.com

HUB International TECHNOLOGY is based in Vancouver and focuses on insuring and protecting public and private companies in the technology sector. We offer Risk Management and Loss Control strategies, placing General Liability, Property, Business Interruption, Cyber Liability, along with other coverages for all types of technology companies, including E-Commerce.


[1] Greg , Bensinger, and Calia Michael . "EBay asks users to change passwords after cyberattack." The Wall Street Journal. The Wall Street Journal, 21 May 2014. Web. 21 May 2014. <http://online.wsj.com/news/articles/SB10001424052702303980004579575802725316802>.

 

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