LinkedIn reportedly spent nearly $1 million already to fix security breach (updated)

Gene Ryan Briones reports:

Following the hapless security infraction that LinkedIn experienced two months ago, the company is now saying that it has spent a huge amount of money to fix the problem. Fresh from its earnings call today, LinkedIn CFO Steve Sordello said that the company has spent between $500,000 and $1 million on forensic work after 6.5 million LinkedIn hashed passwords were leaked and posted on a hacking site in Russia early in June.

Read more on Ubergizmo.

Okay, that’s for the forensics.

In a subsequent media report, the firm was quoted as saying it will likely invest $2-3 million in security upgrades by the end of 2012.

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  1. IA Eng - August 6, 2012

    Thats FORENSIC work; probably costs associated with the findings in order to bring the criminals to justice. A Million Dollars is a spit in the bucket when it comes to a decent sized Datacenter. Its just another company driven by someone who doesn’t have a clue what security is until the hack pulls their pants around therr ankles.

    I deleted my account on the Linked In site a while ago. Linked in turned into a spam engine with everyone and their brother sending requests to join groups, mail about whats hot and not – in their mindset not mine, and general who gives a crap emails. Opting Out didnt work worth a damn either.

    I shake my head when companies say we threw a MILLION dollars at the problem. That don’t mean SQUAT unless you know what the technology will do – or will NOT do for you. The general public will OHHHH and AHHHHH about the cash spent on technology – and maybe a person or two to be used as sacrificial lambs should another breach occur.

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