Credential Stuffing: What Executives need to know

Definition

Credential Stuffing refers to the practice where cyber criminals exploit stolen account credentials, like usernames and passwords from one application to gain unauthorized access to other applications. This technique works primarily due to an overreliance on similar or identical credentials across multiple platforms by the users.

History

Credential Stuffing emerged as an aftermath of some of the largest data breaches in the mid-2010s. In these breaches, billions of user credentials were stolen and dumped on the dark web. Cybercriminals discovered they could automate the use of these credentials on various platforms hoping for successful matches given the common user practices of password recycling. This practice has evolved into a significant threat to businesses worldwide.

Examples

A Major Streaming Platform:

In 2016, a popular streaming service faced credential stuffing that led to unauthorized access to thousands of subscriber accounts. This incident caused significant reputational damage and customer mistrust.

An International Hotel Chain:

In 2019, a famous hospitality network fell victim to a credential stuffing attack that exposed the personal details of up to 5.2 million guests, resulting in substantial loss of revenue and clientele.

Insight

Implementing multi-factor authentication (MFA) can mitigate the risks associated with credential stuffing. It works in the sense that even if a cybercriminal gets through the first ‘keyhole’, they are stopped at the next ‘door’ which requires another ‘key’ – usually something unique to the user such as a fingerprint or a unique code sent to their mobile device.

Call to Action

Understanding and mitigating cybersecurity threats like Credential Stuffing is crucial for the longevity and reputation of your business. Connect with our expertise to fortify your cyber defenses. To learn more about our security assessments, strategic consulting or Fractional CISO services, Contact us for a free consultation.