Data privacy – TheNewsHub https://thenewshub.in Thu, 05 Dec 2024 14:14:04 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 HDFC Life Insurance Data Breach: 1.6 Crore Customers' Information Leaked On Dark Web https://thenewshub.in/2024/12/05/hdfc-life-insurance-data-breach-1-6-crore-customers-information-leaked-on-dark-web/ https://thenewshub.in/2024/12/05/hdfc-life-insurance-data-breach-1-6-crore-customers-information-leaked-on-dark-web/?noamp=mobile#respond Thu, 05 Dec 2024 14:14:04 +0000 https://thenewshub.in/2024/12/05/hdfc-life-insurance-data-breach-1-6-crore-customers-information-leaked-on-dark-web/

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CyberPeace’s investigation reveals that the stolen data is being sold in bulk, with records available in batches starting from 1,00,000 entries.

HDFC Life Insurance confirmed the data breach.

If you’re a policyholder with HDFC Life Insurance, it’s crucial to stay vigilant. A massive data breach has come to light, exposing the personal details of up to 1.6 crore customers. According to CyberPeace, a prominent cybersecurity organisation, this sensitive customer data is being sold on a Dark Web forum for 2,00,000 USDT (Tether cryptocurrency).

The leaked information includes highly sensitive details such as policy numbers, names, mobile numbers, email addresses, dates of birth, home addresses, and even health statuses. The exposure of this personal data, especially policy numbers, has prompted CyberPeace to warn individuals about potential risks, urging them to remain alert and take necessary precautions.

In response to the breach, HDFC Life Insurance confirmed that some customer data had indeed been leaked. Last month, the company issued a statement acknowledging that certain data fields were being circulated by an unknown source, and malicious intent was suspected. They assured the public that a full investigation was underway to evaluate the extent of the damage and to assess any potential risks to customers.

CyberPeace’s investigation reveals that the stolen data is being sold in bulk, with records available in batches starting from 1,00,000 entries. While the identity of the hackers behind this breach remains unknown, the organisation stated that a significant portion of the data has already been sold to interested buyers, heightening concerns over its potential misuse. The fact that a large part of the data has already been circulated raises alarms about the severity of the situation and the potential for identity theft or fraud.

This breach at HDFC Life Insurance is not an isolated incident. Just a few months ago, in October, similar concerns arose regarding Star Health Insurance. Reports surfaced that hackers had stolen and were attempting to sell over 7.24 TB of sensitive customer data, affecting more than 3.1 crore individuals. The stolen information was reportedly being auctioned for $1,50,000, further highlighting the increasing vulnerability of the insurance sector to cybercriminal activity.

As the investigation into HDFC Life’s data breach continues, customers are urged to monitor their accounts closely and report any suspicious activity. It’s crucial to stay informed and take proactive steps to protect personal information in the wake of such cyber threats.

News business HDFC Life Insurance Data Breach: 1.6 Crore Customers’ Information Leaked On Dark Web
]]> https://thenewshub.in/2024/12/05/hdfc-life-insurance-data-breach-1-6-crore-customers-information-leaked-on-dark-web/feed/ 0 Inside the fall of 23andMe https://thenewshub.in/2024/10/23/inside-the-fall-of-23andme/ https://thenewshub.in/2024/10/23/inside-the-fall-of-23andme/?noamp=mobile#respond Wed, 23 Oct 2024 12:30:01 +0000 https://thenewshub.in/2024/10/23/inside-the-fall-of-23andme/

Once worth $6 billion, 23andMe has lost 98% of its value and is on the verge of being delisted from the Nasdaq after all of its independent board members resigned in September. So what happened?

Founded in 2006, 23andMe set out to revolutionize the once very exclusive genetic testing business with a direct-to-consumer model. Thanks to capital from high-profile backers and celebrity endorsements, the company was able to market its test kits at affordable prices.  

Unlike competitors like Ancestry.com, 23andMe sought to leverage its database for drug discovery. The company went public in 2021 and was valued around $3.5 billion. The funding allowed 23andMe to develop its drug research team and spearhead partnerships with pharmaceutical companies.  

“We’re really at a point in time where I’m ready to explode,” 23andMe CEO Anne Wojcicki told CNBC in 2021. “There’s huge opportunities in therapeutics and huge opportunities in our consumer business.” 

Shortly after debuting on the Nasdaq, rising interest rates made it more difficult to raise funding, and sales began to fall. The company introduced a premium subscription product in 2020 that it hoped would make up for the lack of recurring revenue from its test kits, but that strategy failed to pan out. The company reported a $312 million net loss in the 2023 fiscal year, and by September 2023, 23andMe’s share price slid below $1.  

Besides the financial concerns surrounding 23andMe, privacy concerns around the company’s genetic database have also ramped up. In October 2023, hackers accessed the information of nearly 7 million customers.  

Asked by CNBC what would happen to 23andMe’s database if the company is sold or taken private, a company spokesperson said that Wojcicki has publicly shared that she intends to take the company private and is not open to considering third-party takeover proposals.

“Anne also expressed her strong commitment to customer privacy, and pledged to maintain the company’s current privacy policy, including following the intended completion of the acquisition she is pursuing,” the spokesperson said in an email.

Wojcicki submitted a proposal to take the company private in July, but it was rejected by a special committee formed by the company’s directors because the proposal did not provide a premium to the closing price of 40 cents per share at the time.

When 23andMe’s independent directors resigned in September, they cited frustration with Wojcicki’s “strategic differences” in her vision for the company.

Now, 23andMe faces a Nov. 4 deadline to keep its share price above $1 and locate new board members in order to remain listed on the Nasdaq. Watch the video above to learn more.  

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