For a couple of years, data breaches have increased, and regrettably, 2022 has been rife with thefts of private data. They have impacted businesses and organizations of all types, sizes, and industries this year, causing millions of dollars in losses for US enterprises.
Multiple companies have faced severe cybersecurity attacks and data breaches, from the Australian telecoms company Optus to giants like Samsung. Among the long list of companies, there’s Uber as well.
Uber not only faced a cyber security attack in 2022 but has also admitted that it had covered up a huge data breach that impacted 57 million users in 2016. While the hackers got $100,000 from Uber to keep all this quiet, Uber had to pay $148M for civil litigation settlement.
What went wrong? How did Uber handle the whole situation, and what does this mean for cyber security experts? Let’s find out.
Everything That Is Known About the Massive Uber Hack
On September 15, 2022, Uber staff members learned that a large portion of their internal network had been accessed by someone who had posted about the accomplishment on the corporate Slack channel. The New York Times reported that the hacker, who supplied photos of the breach to security researchers and The New York Times, claimed to be 18 years old and was unusually open about how it happened and how far it extended.
On September 16, 2022, Uber released a statement informing the public that it was attending to a cybersecurity incident following a network intrusion.
According to what we have learned so far, the attacker was able to gain access to a worker’s Slack account. The hacker posted this message on the Slack channel, which the employees first took as a joke.
They published a snapshot, screenshots of the Uber AWS instance, the HackerOne management panel, and other evidence to show that the intrusion had occurred. Uber’s HackerOne account holds details regarding security holes in the firm’s products and the cloud environments hosted by Amazon and Google, where the company maintains its source code and user data.
What is known about the hacker so far?
Not a lot. The individual, who identified themselves as 18 years old, complained about Uber drivers’ low pay on the company’s Slack channels. This suggests that the breach is probably not being done for financial benefit through ransomware, extortion, or espionage, along with the fact that the invader made no attempt to hide the intrusion. The person’s identity still remains unknown.
How Much Has Uber Suffered Due To This Attack?
While the hacker hasn’t asked for ransom, the company’s reputation took a really bad hit. Being one of the world’s most sensitive companies and getting hacked by an 18-year-old is not good for anyone’s reputation.
In addition to the reputation hit, Uber’s stock price also fell by around 4% on Friday, September 16. One percent was lost by the Dow Jones Industrial Average. The S&P 500 and Nasdaq Composite both experienced declines of 1.2% and 1.6%, respectively. It’s unclear what’s pushing Uber shares lower and whether the breach has had any impact on the decline.
Importance Of Cyber Security
By 2025, cybercrime will cost the corporate world $10.5 trillion annually, according to Cybercrime Magazine. In addition, during the following four years, costs associated with cybercrime are expected to increase globally by about 15% annually.
A target-rich environment is being created for criminals to take advantage of, thanks to ideas like the pandemic, bitcoin, and the rise of remote working.
On computers, in data warehouses, and on other devices, organizations and corporations, governments, the military, and other socially important organizations store large volumes of data. Sensitive consumer data is included in large quantities in this data.
When this information becomes public, it frequently has very severe repercussions on consumers’ trust in brands, businesses’ ability to compete, people’s reputations, and citizens’ confidence in government institutions.
To preserve this data, it is crucial and in everyone’s best interests to implement advanced cyber defense strategies. Essential infrastructures, including power plants, hospitals, and other healthcare facilities, are necessary for everyone in society to function. We need these to keep society running smoothly.
What Courses Should Cyber Security Experts Learn
It’s no surprise that hackers are getting smarter and more successful about these data breaches. They keep trying new methods to hack servers. The only way to be more secure and outsmart them is to learn cyber security from institutes that provide a hands-on learning experience and have updated syllabus.
The 1-year program conducted by IMS Proschool with CompTIA is the perfect course for Cyber Security Experts to learn. They provide global certification and even have modules for students from non-IT backgrounds.
They have duration-based study options for students with different levels of expertise in IT or CS. The industry experts will guide you throughout the course and prepare you for being a cyber security expert.
Cyber security attacks are going to be a part of this world as long as there are internet and technological advancements. The need for a cyber security expert is never going to end. This is why companies like Uber, Tesla, and Facebook have separate teams to protect their and their user’s data from hackers. If you prepare yourself well with IMS ProSchool’s cybersecurity course, this can be one of the best career paths for you.