Hackers Will Sell 117 Million Stolen LinkedIn Passwords

Four years ago, a group of hackers compromised over 117 million LinkedIn account passwords in one of the largest security breaches ever. Now, these passwords are being sold on an online black market called “The Real Deal.” While many consumers may have already changed their passwords, such measures may not mean their account is still entirely secure.

In an exclusive statement to Consumers’ Research, Dave Weinstein, director of cyber security for the state of New Jersey, said:

“This incident highlights how attractive companies like LinkedIn are to hackers that seek profit from compromising credentials. Users should absolutely adopt more secure identity authentication measures – like two-factor authentication – whenever possible. Passwords, however, are inherently insecure and increasingly subject to a whole host of compromising techniques. Furthermore, it’s incumbent not only on companies but also on users to encrypt sensitive information, making data theft much harder and potentially costlier for cyber-criminals.”

Two-factor authentication, a measure gaining popularity among numerous information sensitive companies and sites, requires consumers to confirm their identity with a text message containing a short code to enter on the website when using a new computer before they can access their accounts. This is an important step for cyber security, however diligent hackers can still surpass two-factor authentication.

LinkedIn has contacted those affected and suggests that all members change their passwords. This breach does not only affect consumers LinkedIn accounts, as many people use the same or similar passwords on other accounts, including bank accounts, email, and more. LinkedIn’s antiquated security procedures are to blame for the initial hack, but it is now up to consumers to protect themselves by proactively changing and securing their accounts and other accounts with the same or similar passwords.

Read more here: http://money.cnn.com/2016/05/19/technology/linkedin-hack/

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