Ticketfly is the latest to experience a damaging data breach that is putting millions at risk of being exposed. A hacker accessed their system and stole names, addresses, emails, phone numbers, and potentially hashed values of password credentials of over 27 million users.
IsHaKdZ, the acclaimed hacker, told Gizmodo that he was in possession of the full customer database and that he accessed the ticket and event purchasing app through a vulnerability in the site. Despite warning Ticketfly about the exposure, IsHaKdZ decided to take matters even further by knocking the site and operations offline for a full week.
IsHaKdZ cost Ticketfly millions of dollars, which resulted in consulting from third-party forensic cybersecurity experts, PR consultants, data breach attorneys, and credit monitoring services, all billing at an hourly rate. Additionally, Ticketfly also experienced business interruption losses due to being offline, which likely resulted in a lot of $$$ in sales.
Had Ticketfly been protected with a cyber insurance policy, it’s likely that they would be covered for these expenses.
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If you’d like to read more about this data breach, click here.