Live Nation Entertainment, the parent company of Ticketmaster, was victim to a cyberattack that affected up to 560 million customers worldwide. The attack was discovered by the company on May 20 and led to a data breach investigation by specialized firms.
The hacker group known as ShinyHunters had announced the cyberattack on Ticketmaster on the dark web, offering to sell customer data including names, addresses, and credit card information. They demanded a ransom of $500,000. Live Nation stated that they are taking steps to mitigate risks for users and cooperate with law enforcement authorities while investigating the incident. The company believes that it will not have a significant impact on their business operations.
Ticketmaster has faced criticism in the US for its service fees and ticket prices. In response, the US Department of Justice recently filed an antitrust lawsuit against Ticketmaster and Live Nation, accusing them of inflating ticket prices and monopolizing the market. The Australian government is also launching an investigation into the cyberattack on Ticketmaster while seeking assistance from the FBI.
ShinyHunters gained notoriety in 2020 for releasing customer data from numerous companies online. A French member of the group was sentenced to prison earlier this year for his involvement in cyberattacks. In addition to Ticketmaster, Australia’s ticket provider Ticketek also suffered a cyberattack during this incident. Although no information about the extent of this breach has been disclosed yet, Australians have been warned that they might be affected by it.
The recent cybersecurity incidents raise concerns about protecting customer data and companies’ safeguarding measures.
Live Nation acquired Ticketmaster in 2010 and became a significant player in the live event industry globally. Despite facing criticism over their service fees and ticket prices, they continue to operate as major players in this industry.
Overall, this incident highlights how important it is for companies to prioritize security measures when handling sensitive customer data to prevent potential data breaches or hacks that could lead to devastating consequences such as identity theft or financial frauds.
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