Well this is the problem with systems that are centralized. They are poorly structured and poorly maintained, and thus leave vulnerabilities in the systems to exploit which is what happens all the time. Decentralized systems that are secured by proof-of-work are ideal.
You have very beautifully explained this fact that centralized systems have so many flaws and loop holes which are very vulnerable and can be exploited. This is the only reason why people are having this much of trust on digital currencies. Digital currency has no doubt changed the living style of so many around us.
Topic: Breach at Sonic Drive-In May Have Leaked Millions of Credit & Debit Cards (Read 367 times)
October 03, 2017, 08:48:47 AM
October 03, 2017, 05:01:59 AM
Quote
Hackers may have made off with millions of credit card and debit card accounts used at Sonic Drive-In locations, according to a security blog.
In a posting Tuesday, Krebs on Security said Sonic Drive-In, a fast-food chain with 3,600 restaurants in 45 states, has acknowledged a breach affecting an unknown number of Sonic cash registers, known today as point-of-sale terminals.
About 5 million credit card numbers were recently put up for sale on a shadowy underground online network, Krebs wrote. The card has recently been used at Sonic locations.
Unknown at this point is whether the breach affected only a small portion of Sonic Drive-In sites or the entire chain.
The company's credit card processor informed Sonic last week of "unusual activity regarding credit cards used at Sonic," said Christi Woodworth, a Sonic spokeswoman.
In a posting Tuesday, Krebs on Security said Sonic Drive-In, a fast-food chain with 3,600 restaurants in 45 states, has acknowledged a breach affecting an unknown number of Sonic cash registers, known today as point-of-sale terminals.
About 5 million credit card numbers were recently put up for sale on a shadowy underground online network, Krebs wrote. The card has recently been used at Sonic locations.
Unknown at this point is whether the breach affected only a small portion of Sonic Drive-In sites or the entire chain.
The company's credit card processor informed Sonic last week of "unusual activity regarding credit cards used at Sonic," said Christi Woodworth, a Sonic spokeswoman.
Quote
"We are working to understand the nature and scope of this issue, as we know how important this is to our guests," a statement by the company said. "We immediately engaged third-party forensic experts and law enforcement when we heard from our processor. While law enforcement limits the information we can share, we will communicate additional information as we are able."
https://www.usatoday.com/story/tech/2017/09/27/sonic-drive-hit-security-breach/708850001/
...
This is probably the biggest disadvantage credit/debit cards have in comparison to bitcoin.
2nd biggest disadvantage for credit cards are APR rates, of which crypto typically has none.
There are some who dislike bitcoin's transfer rates but over the long term transfer rates could be the price crypto users pay to avoid having millions of accounts breached and sold over the internet like credit/debit card users routinely do.
September 29, 2017, 01:33:30 AM
Quote
Hackers may have made off with millions of credit card and debit card accounts used at Sonic Drive-In locations, according to a security blog.
In a posting Tuesday, Krebs on Security said Sonic Drive-In, a fast-food chain with 3,600 restaurants in 45 states, has acknowledged a breach affecting an unknown number of Sonic cash registers, known today as point-of-sale terminals.
About 5 million credit card numbers were recently put up for sale on a shadowy underground online network, Krebs wrote. The card has recently been used at Sonic locations.
Unknown at this point is whether the breach affected only a small portion of Sonic Drive-In sites or the entire chain.
The company's credit card processor informed Sonic last week of "unusual activity regarding credit cards used at Sonic," said Christi Woodworth, a Sonic spokeswoman.
In a posting Tuesday, Krebs on Security said Sonic Drive-In, a fast-food chain with 3,600 restaurants in 45 states, has acknowledged a breach affecting an unknown number of Sonic cash registers, known today as point-of-sale terminals.
About 5 million credit card numbers were recently put up for sale on a shadowy underground online network, Krebs wrote. The card has recently been used at Sonic locations.
Unknown at this point is whether the breach affected only a small portion of Sonic Drive-In sites or the entire chain.
The company's credit card processor informed Sonic last week of "unusual activity regarding credit cards used at Sonic," said Christi Woodworth, a Sonic spokeswoman.
Quote
"We are working to understand the nature and scope of this issue, as we know how important this is to our guests," a statement by the company said. "We immediately engaged third-party forensic experts and law enforcement when we heard from our processor. While law enforcement limits the information we can share, we will communicate additional information as we are able."
https://www.usatoday.com/story/tech/2017/09/27/sonic-drive-hit-security-breach/708850001/
...
This is probably the biggest disadvantage credit/debit cards have in comparison to bitcoin.
2nd biggest disadvantage for credit cards are APR rates, of which crypto typically has none.
There are some who dislike bitcoin's transfer rates but over the long term transfer rates could be the price crypto users pay to avoid having millions of accounts breached and sold over the internet like credit/debit card users routinely do.
I feel like regardless of what form of payment one uses, a scammer (or a set of scammers) will always find a way to (try to) get to your money. Right now with credit cards / debit cards, we have system viruses, phone scams, and the like. With Bitcoin, it could simply be a computer virus that steals information. This would definitely affect those who don't have much experience with BTC. I think it's a possibility of a future issue for BTC as a big-time currency.
September 28, 2017, 10:56:24 PM
I'm very curious as to how those who support a cashless society would react to millions of debit/credit card numbers being stolen.
Its rare for millions of people holding paper money to be robbed. Hoarders of gold, silver and precious metals aren't usually robbed in this way. Those holding bitcoin & crypto also aren't normally stolen from in this way.
Does a cashless society open the door for communities and the public to be defrauded worse than ever before? Is this an important topic which should be addressed by world leaders & representatives?
Its rare for millions of people holding paper money to be robbed. Hoarders of gold, silver and precious metals aren't usually robbed in this way. Those holding bitcoin & crypto also aren't normally stolen from in this way.
Does a cashless society open the door for communities and the public to be defrauded worse than ever before? Is this an important topic which should be addressed by world leaders & representatives?
I also want to hear those proponents of cashless society. Now that their customers are exposed to a possible hack and stealing. How can a cashless society proponent counter act this disadvantage? I think this issue has been addressed already but it seems that they are vulnerable to such attacks and this is really a huge concern as it could lead to losses. And I'm sure those members once heard this news should have called up their bank to cancel their cards right away. I consider this a priority and it should be address right away but the leaders around the world.
September 28, 2017, 09:53:02 PM
Cashless is fine but old timey credit cards aren't. It's an outdated system and it's way too easy to defraud people. After that huge equifax leak I think better ideas for credit scores and credit in general will come out.
September 28, 2017, 09:50:22 PM
Well this is the problem with systems that are centralized. They are poorly structured and poorly maintained, and thus leave vulnerabilities in the systems to exploit which is what happens all the time. Decentralized systems that are secured by proof-of-work are ideal.
September 28, 2017, 09:38:26 PM
I'm very curious as to how those who support a cashless society would react to millions of debit/credit card numbers being stolen.
Its rare for millions of people holding paper money to be robbed. Hoarders of gold, silver and precious metals aren't usually robbed in this way. Those holding bitcoin & crypto also aren't normally stolen from in this way.
Does a cashless society open the door for communities and the public to be defrauded worse than ever before? Is this an important topic which should be addressed by world leaders & representatives?
Its rare for millions of people holding paper money to be robbed. Hoarders of gold, silver and precious metals aren't usually robbed in this way. Those holding bitcoin & crypto also aren't normally stolen from in this way.
Does a cashless society open the door for communities and the public to be defrauded worse than ever before? Is this an important topic which should be addressed by world leaders & representatives?
September 28, 2017, 12:34:35 AM
Quote
Hackers may have made off with millions of credit card and debit card accounts used at Sonic Drive-In locations, according to a security blog.
In a posting Tuesday, Krebs on Security said Sonic Drive-In, a fast-food chain with 3,600 restaurants in 45 states, has acknowledged a breach affecting an unknown number of Sonic cash registers, known today as point-of-sale terminals.
About 5 million credit card numbers were recently put up for sale on a shadowy underground online network, Krebs wrote. The card has recently been used at Sonic locations.
Unknown at this point is whether the breach affected only a small portion of Sonic Drive-In sites or the entire chain.
The company's credit card processor informed Sonic last week of "unusual activity regarding credit cards used at Sonic," said Christi Woodworth, a Sonic spokeswoman.
In a posting Tuesday, Krebs on Security said Sonic Drive-In, a fast-food chain with 3,600 restaurants in 45 states, has acknowledged a breach affecting an unknown number of Sonic cash registers, known today as point-of-sale terminals.
About 5 million credit card numbers were recently put up for sale on a shadowy underground online network, Krebs wrote. The card has recently been used at Sonic locations.
Unknown at this point is whether the breach affected only a small portion of Sonic Drive-In sites or the entire chain.
The company's credit card processor informed Sonic last week of "unusual activity regarding credit cards used at Sonic," said Christi Woodworth, a Sonic spokeswoman.
Quote
"We are working to understand the nature and scope of this issue, as we know how important this is to our guests," a statement by the company said. "We immediately engaged third-party forensic experts and law enforcement when we heard from our processor. While law enforcement limits the information we can share, we will communicate additional information as we are able."
https://www.usatoday.com/story/tech/2017/09/27/sonic-drive-hit-security-breach/708850001/
...
This is probably the biggest disadvantage credit/debit cards have in comparison to bitcoin.
2nd biggest disadvantage for credit cards are APR rates, of which crypto typically has none.
There are some who dislike bitcoin's transfer rates but over the long term transfer rates could be the price crypto users pay to avoid having millions of accounts breached and sold over the internet like credit/debit card users routinely do.
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