Brian Krebs, the blogger who first brought the Target breech to the public and the retailer, believes that The Home Depot, Inc. (NYSE:HD) could have been a victim of a massive credit card breech that could exceed the 40 million credit card and debit card attack.
Home Depot’s breach bigger than Target?
Over a three week period, all that information was obtained by hackers, which ultimately cost the company over a $100 million and the resignation of its CEO.
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The Home Depot, Inc. (NYSE:HD) has said that it is working with “banking partners and law enforcement” in order to investigate “unusual activity” with regards to customer data.
Home Depot has over 2,200 stores in the United States alone and given the Krebs believes the breech could go back to April or May he worries that the attack could be “many times larger” than Target’s.
Krebs began seeing the potential for a breech after a large amount of personal information was posted to an underground website forum.
Target makes a statement
“Protecting our customers’ information is something we take extremely seriously, and we are aggressively gathering facts at this point while working to protect customers. If we confirm that a breach has occurred, we will make sure customers are notified immediately. Right now, for security reasons, it would be inappropriate for us to speculate further – but we will provide further information as soon as possible.” said Home Depot spokesperson Paula Drake in a prepared statement.
European countries have long been using chip-and-pin and chip-and-sign systems, which make them considerably less vulnerable to malware installed on magnetic readers used predominately in the United States. Next year, a number of retailers and banks will roll-out these secure systems to cut down the threat of major breeches.
The Home Depot, Inc. (NYSE:HD) stock reached and all-time high recently but gave back over 2% in yesterday’s trading.