Ticketmaster’s parent company, Live Nation Entertainment declared that they are probing a data breach discovered on May 20th. The particular incident adds to the recent increase in cyberattacks targeting major corporations.
As per a filing with the U.S. Securities and Exchange Commission, Live Nation detected unauthorized activity within a third-party cloud storage system primarily containing Ticketmaster user data.
Presently, the company is working with forensic investigators to understand the scope of the breach. Last week a little-known cybercrime group named ShinyHunters said it had stolen user data of over 500 million Ticketmaster customers, according to the media reports.
The breach comes as the concert promoter has been battling scrutiny over antitrust concerns.
Last week Live Nation was hit with the first in a likely wave of consumer antitrust lawsuits after the U.S. government and states sued to break up the firm, arguing that the company was illegally inflating concert ticket prices and its Ticketmaster unit.’
‘We are working to reduce the risk to our users and the Company, and have notified and are cooperating with law enforcement’, said the company.
‘As appropriate, we are also notifying authorities and users concerning unauthorized access to personal information’. The company said the breach hasn’t had and is unlikely to have a material impact on Live Nation’s business or financials. Live Nation said, ‘We continue to evaluate the risks and our remediation efforts are ongoing’.
Comments