The consequences for companies were that for Financial & Business Impact, eBay lost a lot of trust due to reputation damage. They also had to strengthen its cybersecurity measures by the security costs increasing. The consequences for the individuals was that stolen emails and personal information can be used for phishing attacks. eBay forced users to reset their passwords to increase security. The consequences for society was that the breach highlighted major flaws in corporate cybersecurity. It leads to stronger data protection laws like the EU's GDPR and California's CCPA.
The response to the breach involved damage control by eBay, legal scrutiny, and regulatory actions from governments worldwide. eBay required 145,000,000 users to reset their passwords. European and U.S. regulators about eBay's handling of the breach. Therefore, eBay survived the breach, nobody was arrested, and the hackers weren't identified at all.
Employees are required to use MFA (Multi-Factor Authentication) to avoid access that's not authorized, even if there's stolen passwords. eBay advised users to avoid using the same passwords. 145,000,000 eBay users were forced to create new, stronger passwords. They had to improve encryption methods to protect passwords and sensitive information.
Yes, the hack did lead to new laws, policies and security afterward. Companies had to implement stronger encryption and to allow users more control over their personal data. Many businesses started using MFA (Multi-Factor Authentication) for employee and user accounts. Users create unique passwords for different accounts.
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