Tuesday, October 26, 2021

Credit Card Information Possibly Stolen in Gamestop Breach

Credit Card Information Possibly Stolen in Gamestop Breach

Popular video game retailer Gamestop announced it has been investigating a potential breach to their systems. As part of this investigation, they publicly acknowledged their customers’ credit card information may have been compromised as a result of this breach.

Also read: Bitcoin Traders Worried as Bitfinex Wire Transfers ‘Frozen’ by Wells Fargo

The retailer began investigating after reports hackers had allegedly siphoned away customers’ credit card information from their website, Gamestop.com. According to a KrebsOnSecurity report, the company acknowledged this much when contacted about it.

In a statement to KrebsOnSecurity, a Gamestop spokesman confirmed that a third party had notified them to what they believed to be stolen customer credit card information. The information was also believed to originate from payments made on their main site.

The company’s statement continued, saying:

“That day a leading security firm was engaged to investigate these claims. Gamestop has and will continue to work non-stop to address this report and take appropriate measures to eradicate any issue that may be identified.”

Additionally, two sources in the financial industry said they had received alerts from a credit card processor claiming that Gamestop.com was compromised. The breach allegedly occurred between mid-September 2016 and the first week of February 2017.

The same sources stated that CVV2s, the three-digit security codes on the backs of credit cards, are among the information stolen. This is in addition to credit card numbers, expiration dates, and addresses.

CVV2 information isn’t supposed to be stored by online stores, but according to the KrebsOnSecurity report, hackers can use malicious software to copy the data before it’s encrypted and processed.

Finally, Gamestop had this to say regarding the situation in general:

“We regret any concern this situation may cause for our customers.GameStop would like to remind its customers that it is always advisable to monitor payment card account statements for unauthorized charges. If you identify such a charge, report it immediately to the bank that issued the card because payment card network rules generally state that cardholders are not responsible for unauthorized charges that are timely reported.”

Bitcoin: A New Way to Buy Video Games

The current financial paradigm forces many to rely on centralized institutions in all layers of economic life. This phenomenon makes people less financially secure and opens them up to threats such as this, even when they’re just going about their everyday lives.

Credit Cards are commonplace and the fact that people regularly transact with centralized firms, like Gamestop, means that malevolent actors know just where to look. There’s no need to fret, however. This doesn’t mean you have to stop buying video games in fear of getting hacked.

Quite a few online video game vendors accept bitcoin payments, with Steam, the most popular PC gaming network and marketplace, being the most notable example. And if you don’t want to pay Steam’s prices, then you can just go to discount vendors that are partnered with Steam, like G2A.

What’s more is Microsoft also lets people directly redeem bitcoin for Microsoft points. This gives you the option to indirectly buy Xbox games on the Xbox marketplace with bitcoin.

In fact, some entire gaming platforms are blockchain and crypto-based, like Ionomy and Spells of Genesis. All of these options and more exist to choose from, all without the threat of financial ruin lurking in the background.

What do you think of Gamestop’s potential breach? Would bitcoin be more secure? Let’s hear your thoughts. 


Images courtesy of SlashGear and Gamestop

 

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