Week1 Data Security Breach

   Week2 Explain the causes and effects of data security breaches. BLOG: Learning Outcome 1   Example of Data Breach In February 2025, North Korean hackers stole approximately $1.5 billion in Ethereum from ByBit, one of the largest cryptocurrency exchanges. The hackers exploited a vulnerability in a third-party wallet software during a fund transfer, allowing them to steal the assets. Within the first 48 hours, at least $160 million was laundered through mixing services, making recovery of the stolen funds extremely unlikely. To date, this case is considered the largest cryptocurrency theft. Company losses due to data leak:   1)The company will lose the trust and reputation of other companies and customers.  2)Financial losses and Operational costs - the company needs to compensate for the loss, pay fines, spend money on the courts, finance the search and investigation and fix the problem Customer losses due to data leakage: 1)Financial damage 2)It can cause...

 Week1 Data Security Breach BLOG: Learning Outcome 1     Data Security breach is a negative action of losing, stealing, encrypting, capturing, erasing made by group of people or individual person who use special tools, knowledge, social engineering to capture, steal or change data on any other ways with the idea of making money, show some kind of protest again something, show their skills to somebody or just for fun. The consequences of a data leak can be different, for example, loss of money or blackmail, but if we consider the loss of data for the client and business, it becomes obvious that they often lose completely different things.     Company losses due to data leak: 1)Financial losses - the company needs to compensate for the loss, pay fines, spend money on the courts, finance the search and investigation and fix the problem, and if the work has to be stopped due to a data leak, it will be more difficult for the company to make money 2)The company...