Saturday, June 15TRUSTED FEARLESS,FAIR,FRESH,FIRST NATIONAL INTERNATIONAL NEWS PORTAL

Ticketmaster Confirms Data Hack, 560 Million Users At Risk

READ ON SOCIAL MEDIA TOO

Live Nation Entertainment, Ticketmaster’s parent company, revealed on Friday that they are investigating a data breach discovered on May 20th. This incident adds to the recent rise of cyberattacks targeting major corporations.

According to a filing with the U.S. Securities and Exchange Commission, Live Nation detected “unauthorized activity” within a third-party cloud storage system primarily containing Ticketmaster user data. The company is currently working with forensic investigators to understand the scope of the breach.

Last week a little-known cybercrime group named ShinyHunters said it had stolen user data of over 500 million Ticketmaster customers, according to various media reports.

Live Nation did not mention ShinyHunters in its SEC filing, Reuters reported.

The breach comes as the concert promoter has been battling regulatory scrutiny over antitrust concerns. Live Nation was hit last week with the first in a likely wave of consumer antitrust lawsuits after the U.S. government and states sued to break up the firm, arguing that the company was illegally inflating concert ticket prices and its Ticketmaster unit.

Live Nation’s filing said that on May 27, “a criminal threat actor offered what it alleged to be company user data for sale via the dark web.”

“We are working to mitigate risk to our users and the Company, and have notified and are cooperating with law enforcement,” the company said. “As appropriate, we are also notifying regulatory authorities and users concerning unauthorized access to personal information.”

The company said the breach hasn’t had and is unlikely to have a material impact on Live Nation’s business or financials.

“We continue to evaluate the risks and our remediation efforts are ongoing,” Live Nation said.

 The company is currently working with forensic investigators to understand the scope of the breach.    

Leave a Reply

Your email address will not be published. Required fields are marked *