A hacker known as “ChinaDan” has claimed to have procured the personal information of one billion Chinese citizens and is offering to sell the 23 terabytes of data for 10 Bitcoin, currently equivalent to about $200,000.
If the anonymous internet user’s claim is true, this would be one of the biggest data breaches in history.
According to Bloomberg, the Shanghai authorities have yet to publicly respond to the allegations made by the hacker and police representatives in addition to the Cyberspace Administration of China have not responded to their requests for comments.
While it’s still too early to determine the validity of the hacker’s claims, the shocking news of a potential data breach of this scale once again brings into focus the importance of cyber security and the protection of users’ private information.
Data security at SIGNiX is our top priority. Whether you are utilizing our true digital signature technology, where every signature is embedded with the necessary legal evidence, or our remote online notarization (RON) platform, all your data is stored and transmitted in at least 256-bit encrypted format. Clients may also request SIGNiX to delete its copy of confidential documents to better limit risk of breach.
In addition to the end-to-end encryption of our users’ data, we have recently implemented in our RON platform a new process for capturing driver’s license, passport or other ID pictures that signers must provide for Credential Analysis during a notarial transaction. This new process improves the verification process and ensures a secure transmission of personal information.
See our Knowledge Base article for a detailed explanation of the process.
China Hack Highlights Need for Secure Data Practices
7/7/22 3:47 PM
You may also like
Email Security Awareness Training for Agents and Advisors
Email Security Awareness Training for Agents and Advisors
21 June, 2017John Harris, chief technology officer of SIGNiX, recently wrote an article for ThinkAdvisor about training employees and...
TNECU: Picking SIGNiX Digital Signatures Was "A No-Brainer"
TNECU: Picking SIGNiX Digital Signatures Was "A No-Brainer"
4 June, 2013We’re happy to announce that we’ve added another credit union to our rapidly growing client list! Tennessee Employees Cr...
Credit Unions Lead the Way in Adopting Digital Signatures
Credit Unions Lead the Way in Adopting Digital Signatures
16 April, 2013Digital signature technology is gaining momentum in a lot of different industries, and credit unions are leading the cha...