Ticketmaster has become the latest victim of a significant cyber attack, as confirmed by its parent company, Live Nation. The breach has reportedly compromised the personal information of approximately 560 million individuals. The stolen data includes names, phone numbers, addresses, and partial payment details. The hacking group responsible, ShinyHunters, has demanded a ransom of $500,000 to prevent the sale of the 1.3TB of stolen data, a claim verified by Hackread.
Hacking group ShinyHunters has allegedly stolen data of 500m uses from Ticketmaster.
I discussed the implications on @BBCBusiness @BBCWorld pic.twitter.com/dlACTdGHTx
— Sam Fowles (@SamFowles) May 31, 2024
Live Nation disclosed in a filing with the US Securities and Exchange Commission that it detected “unauthorized activity” on May 20. An investigation was promptly launched, and on May 27, the company learned that a “criminal threat actor” was attempting to sell what was claimed to be company user data on the dark web.
In response, Live Nation has asserted its commitment to mitigating the risks to both its customers and its own operations. The company stated, “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.” Live Nation is continuing to assess the risks and take necessary remediation actions.
This is not the first time Ticketmaster has faced cybersecurity challenges. The company previously dealt with a bot attack during Taylor Swift ticket sales, which caused significant disruptions. Additionally, Ticketmaster has a controversial history of engaging in unethical practices. The company was found guilty of illegally accessing the computer system of its rival, Songkick, on multiple occasions. To avoid prosecution, Ticketmaster agreed to pay a $10 million criminal fine. Furthermore, Zeeshan Zaidi, the former head of Artist Services at Ticketmaster, pled guilty to charges of conspiracy to commit computer intrusions and wire fraud in connection to the scheme.
Would you encourage Ticketmaster to pay the ransom?
Ticketmaster faces a cyber attack as details of millions of customers were stolen by a group called “shiny hunters” and are up for sale on the dark web.#cyberattack #ticketmaster #ticketmastercyberattack #cybersecurity #uk pic.twitter.com/0yw4pF6zyn
— Ronu (@RonuApp) June 3, 2024
Despite these previous incidents, the current breach is particularly concerning due to the scale and sensitivity of the data involved. With 1.3TB of data at stake, the potential impact on affected individuals is significant. The demand for ransom highlights the increasing boldness of cybercriminals and the evolving nature of cyber threats.
In the wake of the breach, Live Nation’s efforts to reassure stakeholders about the lack of immediate impact on its business operations underscore the complexity of managing cybersecurity risks. The company’s emphasis on ongoing risk evaluation and remediation efforts indicates a proactive approach to addressing the breach’s repercussions.
The incident serves as a stark reminder of the vulnerabilities that even large, well-established companies face in the digital age. As cyber threats become more sophisticated, the need for robust cybersecurity measures and vigilant monitoring is more critical than ever. The breach not only puts millions of individuals’ personal information at risk but also highlights the potential for significant financial and reputational damage to companies targeted by cyber attacks.
Just days after Ticketmaster was hacked, Ticketek has revealed it’s been targeted by cyber criminals.
The company, which sells more than 23 million tickets a year is blaming a third party operator and is yet to confirm how many customers have had their data compromised. #9News pic.twitter.com/1hCPZ8jIL9
— 9News Sydney (@9NewsSyd) June 1, 2024
Ticketmaster and Live Nation’s handling of this breach will likely be closely scrutinized in the coming months. Stakeholders will be watching to see how effectively the company can mitigate the impact on affected individuals and strengthen its cybersecurity defenses to prevent future incidents. The outcome of this breach could have lasting implications for the company’s reputation and the broader entertainment industry’s approach to cybersecurity.
Major Points:
- Ticketmaster has suffered a significant cyber attack, compromising personal information of 560 million individuals.
- The stolen data includes names, phone numbers, addresses, and partial payment details, amounting to 1.3TB of information.
- The hacking group ShinyHunters is demanding $500,000 to prevent the sale of the data.
- Ticketmaster has faced past cybersecurity issues, including a bot attack during Taylor Swift ticket sales and illegal access to a rival’s computer system, resulting in a $10 million fine.
- Live Nation is investigating the breach and working to mitigate risks, asserting that the incident is unlikely to have a material impact on business operations or financial condition.
Susan Guglielmo – Reprinted with permission of Whatfinger News
