People involved in financial tech, software programming, cyber security, and cryptocurrencies have been talking about the Lastpass data breach that was disclosed two days ago. The password management company detailed that a breach, committed earlier this year, allowed hackers to obtain a “backup of customer vault data.”
Lastpass Reveals ‘Threat Actor Was Also Able to Copy a Backup of Customer Vault Data’
On Dec. 22, 2022, the password management firm Lastpass disclosed that an “unknown threat actor” managed to breach the firm’s cloud-based storage environment in or around Aug. 2022. As soon as the news was published, the Lastpass data leak has been a topical discussion on social media and forums. A great number of people believe that Lastpass’ situation “may be worse than they are letting on.”
— SwiftOnSecurity (@SwiftOnSecurity) December 22, 2022
“Based on our investigation to date, we have learned that an unknown threat actor accessed a cloud-based storage environment leveraging information obtained from the incident we previously disclosed in August of 2022,” Lastpass disclosed. The password management company added:
The threat actor was also able to copy a backup of customer vault data from the encrypted storage container which is stored in a proprietary binary format that contains both unencrypted data, such as website URLs, as well as fully-encrypted sensitive fields such as website usernames and passwords, secure notes, and form-filled data.
Lastpass insists the encrypted fields are secure with 256-bit AES encryption and the info can only be decrypted by leveraging each user’s master password using the firm’s zero-knowledge architecture. “As a reminder, the master password is never known to Lastpass and is not stored or maintained by Lastpass,” the company detailed.
lastpass gets hacked and immediately after a ton of crypto wallets are broken into and drained
“be your own bank”
nah go break into a brick & mortar establishment if you want my funds nerds, good luck
— gainzy (@gainzy222) December 24, 2022
Lastpass’ Security Reassurance Doesn’t Seem to Convince a Number of Critics
However, a number of reports believe that the situation is worse than Lastpass is letting on. Reviewgeek.com’s Andrew Heinzman stresses in his report to “please, stop using Lastpass.” “Even if you use a strong master password, there’s a chance that hackers will try to phish some information out of you,” Heinzman wrote. The author added:
To be clear, Lastpass is still investigating this data breach. And after four months of ‘sorry, it’s worse than we thought,’ customers are rightfully worried that Lastpass doesn’t have all the details. For all we know, things could get even worse. We asked our readers to stop using Lastpass in July 2020.
Crypto supporter Udi Wertheimer also warned people that if they use Lastpass “attackers probably have a copy of your vault.” Wertheimer’s recommendation is the same as Heinzman’s as the digital currency proponent insisted that users should “stop using Lastpass.”
“We don’t know how bad things are,” Wertheimer added. “It’s possible that attackers have ongoing access, so don’t just change your passwords and put them back into Lastpass.” Moreover, a Twitter user who claims to have worked as an engineer for the company seven years ago also noted that Lastpass’ breach situation is a big deal.
“I worked at Lastpass as an engineer a long time ago. 7+ years ago. My 2 cents on the situation,” the individual said. “This is the worst breach Lastpass has had. By a lot. The key difference is that customer vaults were accessed this time, which are kept in a completely separate database.”
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What do you think about the Lastpass data breach and the speculation that it is worse than Lastpass is letting on? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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