How much is your password worth? Well, would you believe as low as 15 cents? 50,000 stolen iTunes passwords went up for auction on a Chinese auction site for anywhere from 15 cents to 30 dollars:
Roughly 50,000 Apple iTunes accounts stolen by hackers are said to be for sale on China’s largest auction site.
The accounts are available on TaoBao.com, the Chinese equivalent of eBay, for prices ranging from about 15 cents to $30 each, China’s Global Timesreported Thursday. Potential buyers are being promised access to seven times the purchase price in movies and music. The only restriction is that the buyer conduct all downloads within the first 24 hours of buying the illegal account.
Big deal, you say, so they can access my music, who cares?
The problem is many people use the same username and password for several accounts. So for 15 cents a hacker might theoretically access your e-mail, online stores, financial sites, etc. This really stresses the importance of using different passwords for each site that you login to.
This really begs the question, should our network security be based on passwords alone? In a previous article, How Much is Your Password Worth?, I showed that people would actually give away their password for a pen or chocolate. Some just gave them away for free!
And lastly, should you depend on websites that you give personal data to, to protect your information? Do sites, like iTunes, mask your credit card numbers when you view your account page? You wouldn’t want to give out your credit card for 15 cents would you?