Security Breach at Canva

Security Breach at Canva

 

Canva – a high-profile startup founded in Australia and now based in San Francisco – was recently hit by a major data breach; one that left 139 million users exposed. The company had the following to say about this breach:

As soon as we were notified, we immediately took steps to identify and remedy the cause, and have reported the situation to authorities (including the FBI).”

A spokesperson from Canva also added that “We securely store all of our passwords using the highest standards (individually salted and hashed with bcrypt) and have no evidence that any of our users' credentials have been compromised” and that "as a safeguard, we are encouraging our community to change their passwords as a precaution."

Canva was founded in 2012 and has since amassed a major following – considered widely to be the best graphic design service available online. In January of 2018, it was valued at $1 Billion. What this demonstrates, then, is that in the current online landscape no one is truly ever safe.

Data and security breaches are becoming increasingly common – and often times, not even the most sophisticated protection software is enough to truly guarantee security. This is why cyber liability insurance is so important.

Information is at the crux of everything – most businesses would agree that information is perhaps their most important asset. Without data, most decisions become a hopeful stab in the dark – a lack of direction that would become apparent immediately. It is no wonder that information has become the most sought-after resource in the modern day considering it is at the centre of everything. If you control the information, you control everything.

In light of this, hackers will become more daring and ambitious – attempting to breach as much as they can. The person behind the Canva hack alone claims to have hacked close to a billion users since just February of this year. They claim that, once they are done extracting the information, that they then put it for sale on the dark web – and we come full circle. Information is power; once it’s stolen, it is sold right back into the system.

As we integrate further online and become more reliant on technology and the interconnectedness it brings us, we have to be careful not to stray too far from what is safe and secure. At Hubbard Insurance Group, we employ a service-first mindset and can help you with your risk management solutions. It is important to stay ahead of the curve and not to act in retrospect; because by then, the information you have lost has long-since been sold.

Contact one of our brokers today at This email address is being protected from spambots. You need JavaScript enabled to view it. or call us at 905-696-9090 to learn more about how we can beef up your cyber security.

 

 

Sources: Business Insider, ZDnet

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