By Cameron Abbott, Michelle Aggromito and Max Evans
We are living in an era of online
shopping, where consumers are more willing to hand over personal information
for goods and services, and are less suspicious of whom they are divulging
their personal information to. As a result, online businesses are in possession
of a vast amount of their customers’ personal information. The recent hack of
Sneaker Platform Stock-X reminds us yet again of the importance of businesses
maintaining comprehensive and up to date security processes, and in particular,
the necessity of having an adequate data breach response plan in place.
Stock-X, a platform for the re-sale
of sneakers and apparel, was recently hacked, exposing over six million users’
personal data, including their real name, username, password, shoe size and trading
currency. According to a Report
by TechCrunch, Stock-X’s initial response was to reset customer passwords,
stating that it was due to system updates. A spokesperson for Stock-X later
disclosed to TechCruch that Stock-X was alerted to “suspicious
activity”. TechCrunch reports; however, an unnamed data breach seller had
contacted it claiming more than 6.8 million records were stolen from Stock-X in
May, and that the records had been put up for sale and sold on the dark web for
$300.
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