A Catastrophic breach at a major Internet of Things vendor
On Jan. 11, Ubiquiti Inc. [NYSE:UI] — a major vendor of cloud-enabled Internet of Things (IoT) devices such as routers, network video recorders and security cameras — disclosed that a breach involving a third-party cloud provider had exposed customer account credentials. Now a source who participated in the response to that breach alleges Ubiquiti massively downplayed a “catastrophic” incident to minimize the hit to its stock price, and that the third-party cloud provider claim was a fabrication.
Our modern lives are shaped by devices that we use directly on our day to day activities, in our personal lives and at work. We are going to keep seeing these kind of security breaches until we find a better way to operate. This is one of the pressing issue of our software driven lives.