Ticketmaster suffers massive cyberattack, 560 million users at risk
Ticketmaster, a leading ticket sales company, has been targeted in a cyberattack, that potentially compromises the personal and financial information of approximately 560 million users. The breach was confirmed by its parent company, Live Nation. The stolen data includes names, addresses, contact numbers, and partial payment details. The hacking group ShinyHunters has claimed responsibility for the attack, and is demanding a ransom of $500,000 to prevent the sale of this data on the dark web.
Live Nation confirms unauthorized activity, begins investigation
Live Nation reported to the US Securities and Exchange Commission that it had "identified unauthorized activity" on May 20, and subsequently initiated an investigation. By May 27, a "criminal threat actor offered what it alleged to be Company user data for sale via the dark web," according to Live Nation. The company is actively working to mitigate risks posed by this breach, and has stated that remediation efforts are ongoing.
Live Nation downplays impact on operations
Despite the massive breach, Live Nation has stated that "as of the date of this filing, the incident has not had, and we do not believe it is reasonably likely to have, a material impact on our overall business operations or on our financial condition or results of operations." The company continues to evaluate the risks associated with this cyberattack, and assures that efforts to rectify the situation are in progress.
Ticketmaster's troubled history with security breaches
This is not the first time Ticketmaster has faced security issues. The company has previously experienced breaches, which included a bot attack during Taylor Swift concert's ticket sales. Furthermore, Ticketmaster has been involved in hacking activities itself, having illegally accessed the computer system of its rival, Songkick. This illegal activity led to a $10 million fine to avoid prosecution.
