Hackers Steal Billions of Usernames and Passwords From Internet

The way companies protect consumers’ information online has once again been put into question following a series of internet attacks wherein billions of usernames and passwords have been stolen by Russian hackers.

According to a recent report by the New York Times, Russian hackers have stolen 1.2 billion usernames and passwords and 500 million email addresses from 420,000 websites. This series of heists was discovered by Milwaukee-based Hold Security, which has long been involved in uncovering online security thefts.

Security experts fear hackers will continue doing their illegal activities unless companies become more careful.

“Companies that rely on usernames and passwords have to develop a sense of urgency about changing this,” said Avivah Litan, a security analyst with the research company Gartner.

According to Alex Holden, the founder and chief information security officer of Hold Security, majority of the sites attacked by the hackers are still prone to further thefts.

To date, the information gathered from the wave of attacks are being used to send spam messages such as marketing pitches and schemes on social networks.

The increasing reports of information theft and security breach are indeed alarming. Now is the right time for companies to intensify their security measures in order to protect consumers and their businesses.