LIZ: MICROBLOGGING TITAN TWITTER ♪ it’s a beautiful day ♪
LIZ: MICROBLOGGING TITAN TWITTER
TODAY ADMITTING IT’S QUOTE
EMBARRASSED AND DISAPPOINTED
AFTER IT BECAME VICTIM LAST
THURSDAY OF ONE OF THE MOST HIGH
PROFILE SECURITY BREACHES IN
RECENT HISTORY.
HACKERS TARGETED 130 ACCOUNTS,
RESET THE PASSWORDS AND TWEETED
A BITCOIN PAYMENT SCAM FROM 45
OF THOSE ACCOUNTS, INCLUDING
THOSE OF FORMER PRESIDENT OBAMA,
JOE BIDEN, BILL GATES, ELON MUSK
AND JEFF BEZOS.
THEN ALSO TWEETING OUT A BITCOIN
PAYMENT SCAM WITH A FAKE PLEDGE
TO DOUBLE THEIR MONEY IN RETURN
FOR ANYBODY WHO SENT IN MONEY.
HOW DID THEY DO IT?
ONE HACKER WHO CLAIMED TO BE A
TWITTER EMPLOYEE AND MAY VERY
WELL HAVE NOT BEEN AN EMPLOYEE
WAS REPORTEDLY ABLE TO BREACH A
TWITTER SLACK CHANNEL WHERE
ADMINISTRATOR CREDENTIALS WERE
POSTED ALONGSIDE A WAY TO ACCESS
THE ADMINISTRATOR PANEL WHICH OF
COURSE IS THE TOOL USED BY
COMPANIES TO RESET USER
PASSWORDS.
THE REST, AS WE SAY, IS RECENT
HISTORY.
BUT LET’S BRING IT TO TODAY AND
THE MAN WHO FOR YEARS HAD ZERO
TRUST IN ANYTHING ON THE
INTERNET, SO HE FOUNDED PING
IDENTITY, THE COMPANY HANDLES
BILLIONS OF ACCOUNTS FOR
MULTIPLE FORTUNE 5ED HAD ED500 C
WE WELCOME ANDRE DURAND IN A FOX
BUSINESS EXCLUSIVE.
I’M GUESSING THE CHIEF SECURITY
OFFICERS OF COMPANIES AROUND THE
WORLD GOT VERY LITTLE SLEEP THIS
WEEKEND WORRYING IF IT COULD LAP
TO THEIR COMPANIES.
WHAT WERE YOU HEARING FROM YOUR
CLIENTS OVER THE PAST 72 HOURS?
>> THANK YOU FOR BEING HERE AND
CERTAINLY, CYBERSECURITY IS
PARAMOUNT AND ON EVERYONE’S MIND
RIGHT NOW.
WE LIVE INCREASINGLY IN A
DIGITAL WORLD.
I HAVEN’T TALKED TO MY CLIENTS
SPECIFICALLY YET ABOUT THE
TWITTER HACK.
THERE’S BEEN A NUMBER OF
CONVERSATIONS OBVIOUSLY
INTERNALLY, WHENEVER THESE
THINGS OCCUR THERE IS KIND OF A
FORENSIC THAT GOES ON WITHIN THE
SECURITY COMMUNITY AND EVERYONE
IS LOOKING AT THEIR OWN
SECURITY, SAYING COULD THIS
HAPPEN TO ME.
IN THIS PARTICULAR CASE,
OBVIOUSLY WHEREVER THERE IS
VALUE, WHEREVER THERE IS PEOPLE,
WHEREVER THERE IS EYEBALLS, YOU
ARE GOING TO FIND CRIME AND
CYBERCRIMINALS TRYING TO GET IN,
WHICH IS WHY THE IDENTITY
SECURITY OF THE ENTIRE INDUSTRY
AND THE ENTIRE WORLD AS WE LIVE
INCREASINGLY IN A DIGITAL WORLD
IS SO INCREDIBLY IMPORTANT.
LIZ: I HAVE TO ASK, ANDRE,
BECAUSE EVERY TIME THERE’S A
MAJOR HACK, WHETHER IT WAS
EQUIFAX OR TARGET, HOME DEPOT,
WE DO THIS STORY, IS YOUR
COMPANY PROTECTED.
WHAT’S NEW HERE?
WHAT HAVE YOU BEEN ABLE TO DO
FOR YOUR CLIENTS, AMONG THEM
NETFLIX WHICH ALMOST EVERYBODY
WHO HAS AN ACCOUNT HAS BEEN
USING EXTENSIVELY DURING THE
CORONAVIRUS LOCKDOWNS.
WHAT HAVE YOU BEEN ABLE TO DO TO
PROVE THAT YOU PUT A SEAL AROUND
OUR PERSONAL DATA AND THEIR
DATA?
>> WELL, LET ME JUST START BY
SAYING WE RAISE THE WALLS AND
THE CRIMINALS ARE ALWAYS FINDING
WAYS TO GO THROUGH THEM OR
AROUND THEM.
A LOT OF THE HACKS THAT WE HAVE
BEEN HEARING ABOUT HAVE BEEN A
BREACH OF PASSWORDS, WHERE THEY
HAVE SOCIALLY ENGINEERED A WAY
TO ESSENTIALLY GET YOUR
PASSWORD, GET INTO YOUR ACCOUNT.
I THINK THERE’S BEEN A LOT OF
WORK IN RECENT YEARS, ESPECIALLY
AROUND WHAT YOU HAVE DESCRIBED
AS THIS PARTICULAR HACK, IN
PROTECTING THE REALLY PRIVILEGED
ACCOUNTS OF THE ADMINISTRATORS
THAT HAVE ACCESS TO A LOT OF
VERY SENSITIVE INFORMATION, BUT
SUFFICE IT TO SAY, WHAT WE HAVE
BEEN WORKING ON AS AN INDUSTRY,
THERE’S BEEN A LOT OF WORK GOING
ON IN ENCRYPTING INFORMATION
THAT IS JUST SITTING THERE THAT
COULD BE A HONEYPOT FOR THE
HACKERS, AS WELL AS FOCUSING ON
STRONGLY AUTHENTICATING THE USER
WELL BEYOND THE PASSWORD.
ULTIMATELY WE WOULD LIKE TO GET
RID OF PASSWORDS.
THEY ARE REALLY THE WEAK LINK IN
SECURITY RIGHT NOW.
THERE’S MANY MORE WAYS WE CAN
STRONGLY AUTHENTICATE USERS TO
MAKE SURE A STOLEN PASSWORD
CAN’T GET A HACKER INTO YOUR
ACCOUNT.
LIZ: OKAY.
YEAH, I GET THAT.
YOUR STOCK IS DOING VERY WELL,
UP 50% -- 57% YEAR OVER YEAR.
THE ANNUAL LOW IS 12 BUCKS.
WE CAN LOOK AT IT NOW BUT YOU
ARE NOW ABOUT A $2.5 BILLION
COMPANY THAT PEOPLE ARE TURNING
TO.
I NEED TO GET YOUR THOUGHT THEN
ON TIK TOK.
WE KNEW WE WERE VULNERABLE
THROUGH ONLINE SHOPPING SITES
BUT NOW IT’S SOCIAL MEDIA
BECAUSE THE "NEW YORK TIMES"
REPORTED REGARDING THE TWITTER
HACK THAT THIS SO-CALLED LEAD
HACKER NAMED KIRK HAD SOMEHOW
GAINED ACCESS TO THE SLACK
MESSAGING SYSTEM INSIDE TWITTER,
SO MY QUESTION TO YOU IS THIS.
IF YOU’RE TALKING TO YOUR
CLIENTS AND THEY SAY WHAT ABOUT
TIK TOK, DO WE TELL OUR
EMPLOYEES THEY CAN’T HAVE THAT
APP ON WORK PHONES?
WHAT IS YOUR RESPONSE TO THAT?
>> YOU ARE ACTUALLY GOING TO A
PLACE THAT WAS A CONVERSATION IN
MY CAR THIS WEEKEND WITH MY
DAUGHTERS.
I’M NOT CURRENT ON TIK TOK.
OBVIOUSLY I HAVE READ ABOUT SOME
OF THE CONCERNS OF WHERE THE
DATA IS GOING AND HOW THAT
APPLICATION MIGHT BE USED TO BE
STEALING OTHER INFORMATION ABOUT
EITHER USERS OR ACCOUNTS OR
GETTING IN.
LOOK, I THINK WE ARE IN AN ERA
RIGHT NOW WHERE WE NEED HYPER
AWARENESS THAT THE CRIMINALS CAN
BE ANYWHERE, AND WE CAN’T SECURE
WHAT WE CAN’T IDENTIFY, WHICH IS
WHY IT’S SO CRITICALLY IMPORTANT
THAT WE TAKE IDENTITY SECURITY
SERIOUSLY.
PING SERVES 60 OF THE FORTUNE
100.
THEY DO TAKE SECURITY, DIGITAL
AND CYBERSECURITY AND IDENTITY
SECURITY VERY VERY SERIOUSLY.
THIS IS GOING TO BE, IT REALLY
KIND OF IS THE NEW BATTLE FRONT,
IF YOU WILL.
WE NEED TO PROTECT THE ACCOUNTS
OF EVERYONE THAT IS BOTH
CONSUMERS AND EMPLOYEES ALIKE SO
THAT WE CAN CONTROL ULTIMATELY
WHAT THEY HAVE ACCESS TO.
THAT’S WHAT IDENTITY SECURITY IS
ALL ABOUT.
LIZ: ANDRE, WE APPRECIATE IT.
GOOD LUCK TO YOU AND PING