May 31, SAN FRANCISCO (Reuters) – After a year of high-profile corporate cyberattacks, Live Nation Entertainment (LYV.N), opens new tab, announced on Friday that it was looking into a data breach at its Ticketmaster arm that it found on May 20.
Live Nation reported to the U.S. Securities and Exchange Commission that it was collaborating with forensic investigators after discovering “unauthorized activity” in a third-party cloud database that primarily held Ticketmaster data.
According to multiple media reports, a little-known cybercrime organization called ShinyHunters claimed last week that it had obtained personal information belonging to over 500 million Ticketmaster subscribers.
ShinyHunters was not mentioned by Live Nation in their SEC report.
A Reuters request for comment was not immediately answered by the company.
The concert promoter has been under regulatory examination due to antitrust concerns, and this infraction coincides with that attention. The U.S. government and states filed a lawsuit to dissolve Live Nation last week, claiming that the corporation was unlawfully increasing concert ticket prices along with its Ticketmaster unit. This was the first of what is expected to be a wave of consumer antitrust actions against the company.
According to Live Nation’s lawsuit, on May 27, “a criminal threat actor offered what it alleged to be company user data for sale via the dark web.”
“We are working to mitigate risk to our users and the Company, and have notified and are cooperating with law enforcement,” the business stated. “As appropriate, we are also notifying regulatory authorities and users with respect to unauthorized access to personal information.”
According to Live Nation, the hack hasn’t had and isn’t expected to have a significant effect on the company’s operations or finances.
“We continue to evaluate the risks and our remediation efforts are ongoing,” stated Live Nation.
