Hackers raid eBay in the historic breach - Myassignmenthelp.Com

Question: Discuss about the Hackers raid eBay in the historic breach. Answer: The attack on eBay was a result of Cyber attack. Cyber attack is an intended exploitation of systems, networks and technology dependant enterprises (Turban et al., 2015). It uses malicious codes to change the logic, data or the computer codes that lead to disruptive consequences. It results into cybercrimes which poses compromising of data such as information theft or identity theft. The attackers had stolen the information such as email addresses, encrypted passwords, birth dates and other related information of the companys users. It was later found that the hackers used employee credentials which were an easy method to hack the system (Finkle, 2014). eBay is a multinational e-commerce operating corporation. It was established in 1995 by Pierre Omidyar. It is headquartered at San Jose, California, U.S. It provides consumer to consumer and business to consumer sales service through website (Schultz Block, 2015). The company operates eBay.com, online auction and a shopping website where people and business can buy and sell varieties of products and services. Other than this, it includes services like online ticket trading of events and money transfer services. Security life cycle model follows the process of identifying, assessing, protecting and monitoring the system. This helps the organization keep its system improving and changing with time towards more secured networks. However, this model can be useful to avoid cyber threats by continual monitoring and implementing strategies to overcome with the help of implemented policy and standards. These policy and standards are needed to evaluate and configure the resources. In the above case, the companys security was attacked using employee credentials. The companys user information was hacked by unknown hackers using the employee information. This had lead to the users of eBay to a threat of getting their personal information stolen. The company had to compromise over a huge number of information. In addition, they asked their users to change their passwords for eBay as well for other sites in order to be in the safer side (Hackers steal up to 145 million user records in massive eBay breach, 2014). Therefore, the customer had to only change their password and secure their account and be aware of the emails that can be fraud to ask for personal details which is not to be forwarded. After visiting the e-commerce site of eBay I found that the site asked for name, shipping address, email address, contact number and birth date to register and make an account by securing it with a strong password of least 8 characters. Then further while proceeding towards purchasing the products or simply exchanging funds with the company it asked for account details to make the payment, according to me it looked secured at first impression as it allows only PayPal and debit/credit cards to exchange funds (Ksiezopolski, Wierzbicki Rusinek, 2014). But I found one thing insecure that was to save the cards in the account for future purchase. However, this was optional. Reference Finkle, J. (2014). Hackers raid eBay in historic breach, access 145 million records. uk.reuters.com. Retrieved 24 February 2018, fromhttps://uk.reuters.com/article/uk-ebay-password/hackers-raid-ebay-in-historic-breach-access-145-million-records-idUKKBN0E10ZL20140522 Ksiezopolski, B., Wierzbicki, A., Rusinek, D. (2014). On the Modelling of the Computer Security Impact on the Reputation Systems. InInformation and Communication Technology-EurAsia Conference(pp. 526-531). Springer, Berlin, Heidelberg. Schultz, D. E., Block, M. P. (2015). US online shopping: Facts, fiction, hopes and dreams.Journal of Retailing and Consumer Services,23, 99-106. Turban, E., King, D., Lee, J. K., Liang, T. P., Turban, D. C. (2015). E-Commerce Security and Fraud Issues and Protections. InElectronic Commerce(pp. 457-518). Springer, Cham.