Ticketmaster has been confirmed to be hacked as 560 million customers' data from the ticket vendor are reportedly being sold online.
Ticketmaster's parent company Live Nation confirmed the cyberattack in an SEC filing on Friday, stating that it has been working with the Australian authorities since detecting the attack on May 20.
The company said the attack happened on one of its third-party cloud database environments where most of Ticketmaster's data were accessed illegally.
The statement came after ShinyHunters reportedly demanded a $500,000 ransom payment or all data would be sold on the dark web.
BBC reported that the hackers accessed millions of people's names, addresses, phone numbers, and credit card details. The scope of the attack is projected to have hit all of Ticketmaster's global operations.
Despite the threats, Live Nation believes that the incident will not likely have "a material impact on our overall business operations" or with Ticketmaster's.
How to Protect Stolen Data from Hackers?
If you believe that you may be affected by the cyberattack on Ticketmaster, quickly reach out to the company's customer service center to best determine the next steps to protect personal data.
Affected customers are advised to monitor their bank accounts used in transacting with Ticketmaster and report any unwarranted changes immediately.
Enabling and updating multi-factor authentication systems are recommended precautions to prevent hackers from easily accessing personal accounts and finances.
As of writing, Live Nation and Ticketmaster have yet to report data breach attempts using the stolen data from the company.
Stolen Data Auctions Surge Back Amid Gov't Crackdowns
The attack on Ticketmaster coincides with the surge in ransomware attacks with the relaunch of the BreachForums, a forum board in the dark web where hackers can sell stolen data for high prices.
The return came just a month after the Federal Bureau of Investigation raided the site as reports of the forum board being relaunched following its massive crackdown in March last year.
Hacker platforms like BreachForums often attract cybercrime groups looking for a quick source of money after their targets refuse to comply with the ransom demands.
The FBI is currently looking for the platform's backend data to seize the forum board and catch its new administrators.
