Selva Freigedo – Port Phillip Insider Extra (Australia) –
Hackers have managed to get into Dropbox — a cloud storage service — and steal data from more than 68 million users. The information is now for sale on the darknet market.
If you’re not familiar with the darknet, you can think of it as a kind of anonymous eBay, often used for illegal trading. The darknet market sells anything from weapons to cyber-arms and, you guessed it, stolen information.
Dropbox admitted to the breach last September. Yet the hack wasn’t recent; it happened back in 2012. That is, hackers have had Dropbox’s data in their power for well over four years.
The hack came to light when Dropbox notified their users they would be resetting their passwords due to a ‘possible threat’. Yet the company did not disclose the full extent of the breach until Motherboard and the Washington Post published the story.
Email and password data is quite valuable. If you’re like me, you might use the same password for a long time, usually until you’re prompted to change it. That means that stolen password information can be active for years. And people in general will reuse the same password on multiple sites instead of having to remember several passwords.
So the same information can open the doors to numerous sites.
In fact, that is exactly how Dropbox claims the hack happened. An employee had reused a password that had been hacked on another website.
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Selva is the editor of the Port Phillip Insider Extra and regular contributor to The Daily Reckoning and Money Morning. She is an avid traveler and has lived in Brazil, Argentina, Spain, and the US. She is now based in Melbourne, Australia.
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