ShinyHunters posted on Tuesday night in a hacking forum that it obtained data from Ticketmaster and its parent company, Live Nation, including customers’ names, addresses, emails, phone numbers, and order details, Cyber Daily wrote. The group is reportedly attempting to sell the stolen data for $500 million.
From this other link: https://www.abc.net.au/news/2024-05-29/ticketmaster-hack-allegedlyshinyhunter-customers-data-leaked/103908614
It said 1.3 terabytes of customer data possessed by Ticketmaster including names, addresses, credit card numbers, phone numbers and payment details is up for sale.
“Did you cut security staff?”
“Yes.”
“How much?”
“70%”
“And did that lack of security cause a security breach?”
“Yes.”
“And how much money did that cost us?”
“2 million dollars.”
“And how much did the security team that was let go cost us?”
“$500,000 per year.”
“So, we break even after 4 years, and profit after 5?”
“Uhhhhhhh…I guess?”
“Good work Johnson”.
heh, you don’t know how true this is. I’ve worked in IT for 2 decades. IT is pretty much always seen as a cost center.
If everything is running smoothly - “what are we paying you for?!”
If everything is on fire - " What are we paying you for!?"
And now with companies getting the tiniest of slaps on the wrists for willful negligence it’s cheaper to cut IT funding, outsource it, whatever.
If the cost of the fine is less than the profits gained by doing “x” then that’s just the cost of doing business. Execs will continue to do this until there are real consequences for the company and them directly.
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Are you salivating at the mere thought of this, then?
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I’m not sure how that’s indicative of the FTC not being serious? You’re quoting a defense argument, of course they’re going to argue the agency is wrong.
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It’s a fairly routine argument by the defense (we’re being singled out/the regulations are unclear). And regarding federal enforcement, there’s a lot of hamstringing by Congress.
All that to say, this is arguably a good sign of the FTC properly enforcing, not a reason for pessimism.
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