Data breaches remain a constant threat, capable of causing serious disruptions for businesses and potentially creating widespread issues for customers. In today’s blog, we’ll highlight some of the largest and most impactful breaches of 2024.
The Growing Cybersecurity Crisis
From time to time, we compile lists like these to underscore the ever-increasing concern surrounding cybersecurity. According to Cybersecurity Magazine, the total global cost of cybercrime is expected to exceed $9 trillion in 2024 and will likely surpass $10 trillion by 2025. To put this into perspective, that’s more than the GDP of all but two countries in the world. In short, the scale of this problem is staggering.
Before diving into the list, it’s worth noting that 2024 saw the most expensive tech outage in history. The CrowdStrike update affected Microsoft operating systems and caused over $5 billion in damages. While this wasn’t a data breach, it highlights just how costly tech failures can be.
Major Data Breaches in 2024
National Public Data – 2.7 Billion Records
The biggest breach of the year involved a hacking group claiming to have stolen 2.7 billion personal records, affecting nearly every United States, Canada, and the United Kingdom resident. The stolen data includes U.S. Social Security numbers, with some information already leaked on the dark web. While experts are still analyzing the scope of the breach (since there are far fewer than 2.7 billion individuals in these three countries), it’s likely that most, if not all, Social Security numbers have been compromised.
The silver lining? Since the breach is so widespread, everyone is in the same situation. Moving forward, individuals must be more vigilant in monitoring their accounts and credit. Freezing and unfreezing your credit as needed for new loans or credit cards is now recommended.
Ticketmaster – 560 Million Records
In April and May 2024, cybercriminals breached Ticketmaster’s database, exposing the personal and financial data of 560 million customers. Information such as names, emails, phone numbers, and payment details was compromised. The breach revealed weaknesses in the company’s security infrastructure, prompting an immediate outcry as customers reported identity theft and unauthorized transactions. This breach also coincided with a separate legal battle, where the U.S. Department of Justice sued Ticketmaster’s parent company, Live Nation, for anti-competitive practices.
Change Healthcare – 145 Million Records
February 2024 saw a massive ransomware attack on Change Healthcare, one of the largest healthcare breaches in history. Sensitive information such as Social Security numbers, medical records, and addresses was exposed, affecting millions of patients, healthcare providers, and insurers. The breach has prompted a reevaluation of security strategies across the healthcare sector, with many organizations strengthening their defenses against similar attacks.
Dell – 49 Million Records
In May 2024, Dell suffered a major breach after a hacker known as "Menelik" exploited a vulnerability in one of the company’s reseller portals. The breach exposed the personal data of 49 million customers, including names, email addresses, payment information, and account details. Dell has since issued a public apology and vowed to improve its security protocols, but the incident has drawn regulatory scrutiny and could lead to legal challenges as investigations continue.
AT&T – 73 Million Records
Hackers breached AT&T’s systems, compromising the data of 73 million current and former customers. This breach included sensitive information such as Social Security numbers, account details, and passcodes. Most alarmingly, much of the exposed data dated back to 2019 or earlier and was discovered on the dark web in March 2024. This marks the second significant attack on AT&T in recent years, following a 2023 breach affecting nine million customers. The company is now facing multiple class action lawsuits as it works to mitigate the damage.
Protect Your Business from Cyberthreats
Even if you don’t serve millions of customers, your business is still at risk of cyberattacks. To safeguard your network, consider adopting the following strategies:
- Implement robust security measures to protect your systems.
- Train your employees on password management and phishing prevention.
- Maintain a comprehensive cybersecurity strategy.
The IT security experts at CoreTech can help you enhance your cybersecurity defenses. Contact us at (270) 282-4926 to learn more about how we can help keep your business safe.
