Friday, December 9, 2022

Deloitte Email Hack a Potential Goldmine of Secret Corporate Information

Deloitte Email Hack a Potential Goldmine of Secret Corporate Information

Major accounting firm Deloitte reportedly suffered a months-long data breach that compromised its email system. The “big four” corporation has already notified six clients their confidential communications are likely no longer confidential.

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This revelation is the latest in a series of breaches at major corporations, several of which counted information security as their field of expertise. Just last month, credit monitor Equifax revealed it accidentally exposed financial records for over 143 million U.S. residents.

Equifax has been in a world of pain since then, with one U.S. senator even threatening prison time for people who handled the company’s response.

How Valuable Is the Information Hackers Accessed?

The Guardian described Deloitte as such:

“One of the largest private firms in the US, which reported a record $37bn (£27.3bn) revenue last year, Deloitte provides auditing, tax consultancy and high-end cybersecurity advice to some of the world’s biggest banks, multinational companies, media enterprises, pharmaceutical firms and government agencies.”

High-end cybersecurity advice… ouch. The report also said clients from all those sectors had their emails exposed.

Deloitte LogoDeloitte’s loss is a potential goldmine for those interested in viewing major corporate strategies and rivals’ plans. It could also lead to further breaches down the road, since the emails included detailed financial and health information, other accounts and passwords, and companies’ security architecture.

However Threatpost reported that Deloitte claimed “only very few clients were impacted”.

The hack targeted Deloitte’s account on Microsoft Azure cloud service. The attacker used a single administrator account with one password, which did not have two-factor authentication.

Security reportedly discovered the hack in March 2017, but it may have happened up to six months prior to that.

Deloitte a Bitcoin and Blockchain-Friendly Corporation

Rubix by DeloitteBefore Bitcoiners launch into schadenfreude at this latest traditional financial world hack, remember Deloitte has been one of the more crypto-friendly corporations.

The company’s headquarters is in London, U.K., but its Toronto branch publicly experimented with Bitcoin, installing a Bitcoin ATM in its lobby and convincing a restaurant in the building to accept the currency through BitPay.

Deloitte also launched its own blockchain/distributed ledger platform called Rubix, but project leader Iliana Oris Valiente acknowledged the role Bitcoin plays in helping newcomers to understand blockchain technology.

Is it even possible for large corporations to protect their data? Let’s hear your thoughts.

Images via Deloitte

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