Though the company assures that no financial information has been stolen, the incident, in light of several other recent major consumer brand hacks, the news, “demonstrates just how insecure passwords are,” Charles Sweeney, CEO, Bloxx said in an e-mail to SCmagazineUK.com.
“The success of ecommerce is based on consumers trusting the site that they are transacting with,” Sweeney continued, “and companies are on the verge of that trust being eroded. Once it is gone it will be very hard to get back."
Jason Hart, VP Cloud Solutions at SafeNet, also in an e-mail, echoed his sentiment: “With the increasing frequency and size of data breaches, customers are losing more than their financial information. Cyber criminals are going after easier targets and that is often personal data which is often unencrypted. It's only a matter of time before companies will have to start protecting more of that data with encryption.”