You Can’t Trust Companies to Tell the Truth About Data Breaches

Last week, online sneaker-trading platform StockX asked its users to reset their passwords due to “recently completed system updates on the StockX platform.” In actuality, the company suffered a large data breach back in May, and only finally came clean about it when pressed by reporters who had access to some of the leaked data.

In other words, StockX lied. And while it disclosed details on the breach in the end, there’s still no explanation for why it took StockX so long to figure out what happened, nor why the company felt the need to muddy the situation with its suspicious password-reset email last week.

While most companies are fairly responsible about security disclosures, there’s no question that plenty would prefer if information about massive security breaches affecting them never hit the public eye. And even when companies have to disclose the details of a breach, they can get cagey—as we saw with Capital One’s recent problems.

Source: You Can’t Trust Companies to Tell the Truth About Data Breaches

Sadly it’s partially understandable, considering the lawsuit shotguns brought to bear on companies following disclosure.

Having said that, many of the disclosures are the results of really really stupid mistakes, such as storing credentials in plain text and not securing AWS buckets.