Categories: FinanceNews

GameStop Alerts Customers About Potential Credit Card Information Theft

It has been a while since we last discussed a data breach affecting credit card information. Contrary to what some people may want to believe, these types of data breaches are not becoming less common, though. The latest company to report such a major incident is GameStop, the popular game store franchise in the United States. It has not been the best of years for the company, that much is evident.

Credit Card Breach Potentially Affects GameStop Customers

As a GameStop customer, the last thing you want to see is an email explaining how your credit card information may have been obtained by a criminal. Unfortunately for the company, they had to send out such an email to a lot of their customer base. It appears a data breach of the company’s servers had taken place, which could have lead to the criminals obtaining a lot of sensitive personal and financial information.

To be more specific, the company acknowledges the data breach. Among the information potentially exposed to assailants are customer names and address, as well as credit card information. More specifically, the information of anyone placing an online order at the GameStop website between August 2016 and early February 2017. That is quite a large timespan during which thousands of orders may have been placed.

What is rather troubling is how GameStop has no idea of which information may have been obtained from clients. It is evident the company sent out these emails as a precaution to warn users about potential suspicious charges to their credit cards. It is not the first time GameStop has dealt with potential credit card issues, as a post surfaced earlier this year indicating such a breach had taken place. At that time, nothing was officially confirmed.

Even now, GameStop has not acknowledged any credit card information has been stolen. It is truly the company identified a potential security incident related to transactions made on the company website. All customers making purchases during this time have been notified about this incident, although it is unclear if anyone has effectively been affected. We can only hope no credit card information was stolen, albeit that is anybody’s guess at this point in time.

All of this goes to show using a credit card through online platforms remains a major security risk. Companies simply cannot keep customer information safe from prying eyes, despite their best efforts. Having third parties store sensitive financial information needs to be avoided at all costs. Data breaches are far more common than most people realize, and credit card information is a valuable commodity among internet criminals. They often resell or abuse said information for financial gain.

The bigger question is how these problems can be alleviated in a convenient manner. It does not appear there is a cookie-cutter supply to allow people to sue a credit card and keep that information stored in a decentralized manner. It is evident something will need to change sooner rather than later, though, as things have been getting out of hand for quite some time now.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Recent Posts

Is Walmart Poised to Become a Major Blockchain Player?

Semantics aside, the world of blockchain technology represents a new paradigm in the way businesses interact and operate. When its…

15 mins ago

Blockchain Academic Research Bolstered by Stanford’s New Blockchain Research Center

Stanford University has launched an initiative that will be dedicated to the research and development of blockchain technology. The Center…

1 hour ago

Incent Loyalty celebrates ‘Bitcoin Pizza’ moment with first real-world transaction

Incent has been used to settle a $1,400 bill with a local restaurant – the token’s very own Bitcoin Pizza…

2 hours ago

Bitcoin Price Watch: Is the Recent Drop Part of a Bigger Picture?

At press time, bitcoin is retaining its $6,100 price from yesterday. The currency fell to this position from $6,700 after…

19 hours ago

Are Centralized Exchanges Breaking the Crypto Promise?

Exchange hacks are becoming the new normal. Just two weeks after Conrail’s $37.2 million hack, it was time for Bithumb’s…

19 hours ago

What Is Forging, and Is It a Viable Alternative to Bitcoin Mining?

As more and more people join the cryptocurrency conversation, Bitcoin mining has been thrust into the limelight. And just like…

20 hours ago