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The 17-year old who gave the retail sector a giant headache

  • The hacker behind the massive data breach at Target (TGT -1%) is a 17-year old Russian, according to intelligence firm IntelCrawler.
  • Though Target and Neiman Marcus have been front and center with their disclosures, the malicious malware involved in the attack is now out in the wild and could be used against any retailer which has a point-of-sale vulnerability.
  • The scope of the security breach, along with the sudden interest by Congress in the issue, has increased the likelihood that the entire retail sector may be forced to upgrade their systems at a steep cost.
  • Related ETFs: XLY, XRT, VCR, RTH, RETL, FXD, PMR, FDIS, RCD, PEZ, PSCD
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Comments (5)
  • BlueOkie
    , contributor
    Comments (5596) | Send Message
     
    Who benefits from this? IBM maybe? How about google or another cloud provider. What about Amazon and other online retailers? Who is harmed- WalMart must be next
    17 Jan, 04:06 PM Reply Like
  • name999
    , contributor
    Comments (165) | Send Message
     
    So far the only benefit we could see clearly is for those companies that provide credit monitoring services like FICO, Equifax,Experian and TransUnion. People are becoming aware of how vulnerable those security systems are. They may take some actions to protect their information or at least monitor their account more frequently.

     

    Another sideline from this data breach is the official rising of a talent coder from the underground world into the eyes of some secret services. According to the report, the malware was being sold for $2,000 or 50% of the proceeds from selling compromised card information. Jesus, this kid is like a 30 Million Dollar Weapon just like Jason Bourne. Who can tell what he could do next if someone offers him $20,000!
    17 Jan, 04:56 PM Reply Like
  • tomlos
    , contributor
    Comments (1147) | Send Message
     
    IBM gains zero benefit from this.. When will people on the street realize they are legacy tech and fighting to remain relevant?
    18 Jan, 09:02 AM Reply Like
  • samuel_liu
    , contributor
    Comments (2798) | Send Message
     
    The last time I used Target shopping, I have changed my credit card many times.
    17 Jan, 08:04 PM Reply Like
  • ROLLINGMEADOW
    , contributor
    Comments (28) | Send Message
     
    And how long will the upgrade take? W/0 credit who will buy?
    19 Jan, 10:44 AM Reply Like
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