StubHub Victim of Cyber Fraud Ring

StubHub, an Ebay Inc online ticket resale company, has reported that over 1000 accounts have been used fraudulently to purchase tickets.

This announcement comes after a year long multi agency international joint investigation. StubHub identified the fraudulent purchases in 2013, reported the activity to the authorities and refunded users accordingly.The head of global communications for StubHub, Glenn Lehrman, has stated that the site itself was not hacked. It is believed the cyber hackers used information gained from other sites possibly using keyloggers, malware or database breaches to access the StubHub user accounts, it has not been made clear the exact method used for gaining the information needed to access the user accounts. More details may be released at a later time.

The actual dollar amounts and names of the hackers have also not been released at this time. Manhattan District Attorney Cyrus Vance plans to announce details about the arrests in conjunction with the Royal Canadian Mounted Police, the City of London Police and the U.S. Secret Service. Mr. Lehrman feels this is the work of a “pretty intense network of cyber fraudsters working in concert with each other.”