Ron Breaux in Bloomberg BNA Electronic Commerce & Law Report: Russian Gang Hacks 1.2 Billion Passwords, U.S. Company Selling Security Services Says

08/07/2014


A gang of hackers in Russia has amassed 1.2 billion sets of looted user names and passwords, according to a U.S. data security company, which said Aug. 5 that the theft created the largest known cache of stolen personal information.

The pilfered records, associated with about 500 million unique e-mail addresses, were discovered by Hold Security LLC, a Milwaukee-based company that sells information security and risk management services.

“There is nothing unique about the methods used for this attack, but the sheer size of the data stolen is breathtaking,” Ronald W. Breaux, a partner and head of the Privacy and Data Security Practice Group at Haynes and Boone, LLP, in Dallas, told Bloomberg BNA Aug. 6.

This incident provides more incentive for companies to move to advanced Internet interface verification systems, such as those using three authentication factors and dynamic credentials with tokens, to establish trusted identities, Breaux said.

Excerpted from Bloomberg BNA E-Commerce & Tech Law , August 7, 2014. To view full article, click here (subscription required).

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