Expert Reaction On Millions of LiveAuctioneers Passwords for Sale

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Researchers at CloudSEK claim to have found evidence of the sale of a database containing 3.4 million users of online art and antique auction website.

EXPERTS COMMENTS
Saryu Nayyar
Saryu Nayyar, CEO, Gurucul | July 14, 2020

When it comes to protecting corporate assets, the best way to identify account compromises or account takeovers is with behavior analytics.

Account compromise attacks continue to net profits to cybercriminals. You should always use unique usernames and passwords for every application and system you touch. Hopefully, LiveAutioneer customers did not reuse their username/password combinations for any other systems or applications. When it comes to protecting corporate assets, the best way to identify account compromises or account takeovers is with behavior analytics. Cybercriminals can steal credentials but they cannot steal behavior. When behavior changes anomalously, then you know something is amiss and can proactively take remediation actions to stop a cyberattack in progress.

 

Chloé Messdaghi, VP of Strategy, Point3 Security | July 14, 2020

Given the major amounts of monies involved in some of the art auctions on LiveAuctions, its customers should expect far better security.

This company has completely failed its customers. I went on the site and started an account with the simplest of passwords: password. And then, I was immediately asked to enter my credit card data. There was no 2FA, and no request for a longer and strong password with upper and lower cases, symbols or letters. Given the major amounts of monies involved in some of the art auctions on LiveAuctions, its customers should expect far better security. That in itself means they set themselves up to fail and set their customers up to fail too.

It’s a disappointing fact that a lot of consumer-facing companies and even banks still don’t require better passwords, such as more than 30+ characters, and don’t even have 2-factor authentication requirements. Moreover, you can download the LiveAuctions app, and then their website insecurity flows through to your device – who knows if malware could follow? And who knows whether, when LiveAuctions updates its website it also updates its app, and vice versa?

LiveAuctions is auctioning things that are tens of thousands of dollars. Surely, they can invest in just a little to let consumers know their passwords are overly weak and push back to let them reevaluate.

When companies don’t invest in security, they’re forcing their customers to change their credit cards and also to reconsider their affiliation with the company. It’s so important to invest in security – for customers and for the company’s own stability.

 

Chris Hauk, Consumer Privacy Champion, Pixel Privacy | July 14, 2020

I strongly urge Live Auctioneers customers to change the password for their account on the affected site.

It’s a bit ironic that users of an auction site are now seeing their login credentials and personal details being auctioned off to the highest bidder. Data breaches such as this one should prove a fair warning to all online users to stay away from using the same login and password combination on multiple websites. It should also provide a warning to websites and services that persist in encrypting user information by using antiquated encryption methods.

I feel like a broken record, but I strongly urge Live Auctioneers customers to change the password for their account on the affected site, and to double-check to confirm that login information isn’t being reused on any other sites. And of course, keep an eye out for suspicious activity, be wary of links and attachments in emails, and take advantage of the free credit monitoring or other online security offering that should be offered by Live Auctioneers.

 

Paul Bischoff, Privacy Advocate, Comparitech | July 14, 2020

MD5 was proven vulnerable in 2010 and successful major attacks started emerging as early as 2012.

The use of MD5, an obsolete hash algorithm is a major oversight by LiveAuctioneers et al. MD5 was proven vulnerable in 2010 and successful major attacks started emerging as early as 2012, so there’s really no reason to be using it a decade later. Despite that, MD5 is still widely used, including for password hashing. Organisations still using MD5 should immediately upgrade to SHA2 or better.

LiveAuctioneers users should immediately change their passwords. That includes any other accounts that share the same password, as hackers will attempt to use the same username and password combination on other sites, apps, and services. Always use unique passwords for each account to avoid credential stuffing attacks.

 

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