JPMorgan Chase Hacked, Data Of 465,000 Prepaid Card Users Exposed

A recent cyber attack targeted JPMorgan Chase, one of the largest banks around the globe. During the attack, data of 465,000 prepaid card users was breached and accessed by the hackers.

JPMorgan Chase

Interestingly, the data breach took place in July and it is only now that the incident has been publicly reported. In other words, the bank kept the fact that its security systems were compromised, entirely under wraps which comes off as a dishonest gesture.

Back in July, hackers apparently targeted, nicking away the credentials of some 465,000 prepaid card users. Given that the bank has a total of 25 million Ucard users, the hackers were able to gain the data of some 2%. Other users who have debit cards, credit cards or prepaid Liquid cards are entirely unaffected by the whole fiasco, the bank has stated.

Thankfully, the bank was able to identify the victims of the cyber heist and notify them. What is shocking, though, is that the bank hasn’t replaced the prepaid cards whose information had been compromised. According to JPMorgan Chase’s representatives, since the hackers haven’t made use of any of the stolen information, the bank doesn’t feel the need to replace the cards. This is being blatantly ignorant of the fact that such data is sold to multiple parties in the underground hacking world and has a potential for becoming yet another crisis for the bank in the future.

In simpler words, absolutely no security measure has been taken in the wake of the hack. Rather, the bank has simply gone forth to offer one year of free credit-monitoring services to the affected customers.

Source: Reuters

Courtesy: The Hacker News

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Salman Latif is a software engineer with a specific interest in social media, big data and real-world solutions using the two.Other than that, he is a bit of a gypsy. He also writes in his own blog. You can find him on Google+ and Twitter .

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