Industry News

Stratfor Loses $1.75 Million Due to Hacking

Global security analysis company Stratfor lost $1.75 million after the recent Anonymous-affiliated data breach, according to a court settlement. The firm has to give free subscriptions, a digital book, and credit-monitoring services to affected users.

Judges also ordered Stratfor to pay attorney fees for the client who sued after losing personal information in the attack, according to Reuters.

The court documents show the company admits no “wrongdoing, fault, violation of law, or liability of any kind.” At the time, hackers stated Stratfor was “clueless… when it comes to database security.”

Stratfor was breached in December last year, when hackers under the name AntiSec stole and released email addresses and credit card numbers of clients including people in the Air Force, U.S. Army, Police, and famous government officials such as former American Secretary of State Henry Kissinger.

Feds recently charged one person in the U.S. and four Irish and British men with the cyber-attack. The court set a final approval hearing for the end of September.

In the meantime, Anonymous hackers continue to attack the Japanese government, while authorities investigate small online breaches. The group condemns a revised copyright law that passed last week and could make downloading without permission a criminal offense punishable by up to two years in jail, or a $25,000 fine.

About the author

Bianca STANESCU

Bianca Stanescu, the fiercest warrior princess in the Bitdefender news palace, is a down-to-earth journalist, who's always on to a cybertrendy story. She's the industry news guru, who'll always keep a close eye on the AV movers and shakers and report their deeds from a fresh new perspective. Proud mother of one, she covers parental control topics, with a view to valiantly cutting a safe path for children through the Internet thicket. She likes to let words and facts speak for themselves.

1 Comment

Click here to post a comment
  • How can anyone seriously argue that “Stratfor lost $1.75 million” when the total figure is made up of $400,000 in attorney’s fees and the rest—ALL of the rest of the $1.75 million—amounts to “compensation” by giving the parties $42.07 of its digital product. All of this is in the Reuters article. When a company that stored your credit card details in plain text offers you its **digital** product as “compensation”, it’s hardly spending $1.35 million. The only person making out on this is Stratfor, which is getting away with a class action suit by handing out its costless digital product, and the ambulance chaser lawyers of Sterling & Sterling Inc., who are being paid $400k for noticing an opportunity to make some cash. They didn’t get anything good for their class action clients, just for themselves.