Research and Markets - Cyber Security Firm Discover Over 250 Million Hacked Email Credentials

May 05, 2016, 05:57 ET from Research and Markets

DUBLIN, May 5, 2016 /PRNewswire/ --

A cyber security firm has uncovered hundreds of millions of hacked email usernames and passwords being shopped around Russia's criminal underground. Alex Holden, of Holden Security, told Reuters they had found over 250 million stolen accounts from some of the world's most popular email services, including Google, Yahoo and Microsoft.
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Holden's company monitors conversations and activities in underground forums and chat rooms. They have previously uncovered high profile data breaches affecting users at Adobe Systems, JPMorgan and Target. It has become a prevalent issue for enterprises, with the global big data market expected to reach a valuation of $212.4 billion over the next decade. This latest hack came to their attention after a young Russian hacker started bragging in a forum that he had collected a large number of stolen credentials.

The widespread adoption of cloud-based services and the emergence of IoT has led to IT systems becoming more vulnerable to cyber-attacks. Vendors are spending more on integrated security solutions, with the market forecast to grow 12.13%. A recent survey by the Cloud Security Alliance found that stolen online credentials are to blame for 22% of data breaches. In the BFSI sector, cyber security solutions are being adopted rapidly for authentication processes, video management systems and for storing biometrics information.

The vast majority of accounts were from Mail.ru, Russia's leading email service. But the cache did contains tens of millions of credentials from the likes of Gmail and Microsoft, as well as thousands from German and Chinese email providers. Holden says the hacker asked for as little as $1, but eventually agreed to give up the data-set for some favorable comments in the hacker forums.

For further information on this topic, and a full list of all related documentation, please visit the IT Security section at http://www.researchandmarkets.com/rm/OJPN                                 

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Source: http://www.reuters.com/article/us-cyber-passwords-idUSKCN0XV1I6

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