The hacking incident that happened 4 years ago at the popular professional networking site, Linkedin, thought to have over 6.5 million passwords have been stolen. However, now the site revealed it feared that 117 million users' passwords have been put on sale online was true.
According to CNN Money, the business-oriented social networking website said on Wednesday that it believed hackers have sold a vast number of 117 million of emails and passwords on illegal market. Linkedin originally said that 6.5 million passwords were reset in 2012. Users are in danger of identity theft as well as bank frauds, as many of them are using their login information all over again.
The company is also advising people with Linkedin accounts to change their log in credentials with two-factor authentication. Users will receive a message when they are logging in on a different computer. It was reported that the hackers are selling the private data on a dark website known as "The Real Deal."
Chief Information security officer, Corry Scott, said that they are taking the matter seriously especially when it comes to the safety and security of the members.
Linkedin also faces criticism regarding its security policy. In 2012, Linkedin has not set an essential part of security. That is why, the disordered content was easily decrypted by hackers. Now, the company is trying to prevent them from selling the stolen data on the dark web.
The passwords are being sold online worth 5 bitcoins, which is estimated to be $2,200 by one hacker, known only as "Peace," News4Jax reported. The company, which is headquartered in Mountain View, California, is still trying to figure out the number of login credentials still in use and who are still resetting it.
According to cybersecurity experts, the incident will be a warning to Internet users to make a frequent change on their passwords, and they are recommending passwords should have words that will not be easily guessed or deciphered by the hackers. Currently, the site has 400 million members in 200 different countries.