Social media app, Timehop, was hit with a data breach, affecting 21 million of its users which dates back since December of 2017. The social media app that pulls from your “memories” on Facebook and Instagram confirmed that the cybercriminals have access to names, email addresses, phone numbers, and most alarming, “access tokens”, which could allow the hackers to expose user’s social media accounts.
Although no financial information was stolen, reports indicate that 4.7 million users had their phone numbers attached to their accounts, which can be sold for more money on the dark web than names and email addresses. Timehop reported that a hacker accessed their cloud computing account, which wasn’t protected by two-factor authentication. This attack can potentially result in consulting from third-party forensic cybersecurity experts, PR consultants, and data breach attorneys, all billing at an hourly rate.
If Timehop had a cyber insurance policy in place, it’s likely that they would be covered from any type of financial loss related to this attack.
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