US-Based Discount Store Dollar Tree Suffers a Cyberattack

US-Based Discount Store Dollar Tree Suffers a Cyberattack
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Dollar Tree recently fell victim to a major data breach impacting nearly two million current and former employees. Sensitive personal information including names, social security numbers and birthdays was exposed by a third-party vendor, Zeroed-In, putting those affected at serious risk of identity theft and fraud.

Surge in Cyber Attacks Drives Data Theft

There has been an increase in cyberattacks in America in 2023, as indicated in a report by Identity Theft Resource Center. In the third quarter of 2023 alone, there have been various data breaches which have impacted over 63 million people in total.

Hackers covet sensitive information which can be leveraged for illicit profits. This type of attack, where hackers steal confidential data and then withhold access from it until the victims agree to pay a ransom, is called ransomware.

Complete identity records fetch up to $1,000 each on dark web markets. Even individual details like SSNs can sell for around $1 per number.

Stolen Data Enables Further Breaches

Profits are only part of the equation. Once something becomes available on the dark web, it can easily lead to more data breaches through targeted phishing attacks.

By impersonating brands people trust, hackers trick victims into surrendering account credentials, financial information or downloading malware. These fraudulent emails tally over 3 billion sent globally every day.

One of the best ways to protect yourself from phishing attacks is to use an antivirus such as TotalAV. We also recommend changing your passwords and making them more complex. Make sure you don’t use the same password across multiple accounts as this can make it easier for hackers to get access to your data.

Dollar Tree’s Response to the Breach

Individuals impacted by the Dollar Tree breach are being offered 12 months of free credit monitoring to mitigate potential fraud. However, everyone should remain vigilant about sharing personal information online and watch for suspicious emails and messages that ask for your personal information.

Though cybercrime shows no signs of abating, maintaining awareness and exercising caution remain the best safeguards.