Rather than disclosing the breach immediately after it was discovered, the Kalanick-led management tried to hide it by paying the hackers $100,000 to delete the compromised data.
While it's certainly concerning that our personal data has been leaked to outsiders without us even knowing, Uber's CEO insisted there was no "evidence of fraud or misuse tied to the incident".
"It is heartening to see the new management team come clean about the breach, but I remain concerned at some of the wording in Mr. Khosrowshahi's blog".
"I recently learned that in late 2016 we became aware that two individuals outside the company had inappropriately accessed user data stored on a third-party cloud-based service that we use". Former CEO Travis Kalanick reportedly knew about the hack one month after it occurred.
The New York Attorney General's Office has also opened an investigation into the breach.
Uber has admitted it covered up a data breach in 2016 that affected 57 million customers and drivers. It was also in blue moon due to the sexual harassment case.
"While there's no overarching federal regulations in place in the USA, there's a patchwork of state regulations that dictate when disclosures must be made - often it's when a set number of users have been affected", said Spinner.
Uber has a history of playing fast and loose with regulators.
"Research we conducted this year showed that in just the first half of 2017, 65% of organisations fell victim to malware-related breaches and 55% experienced phishing-initiated breaches". After they found the rider and driver data, they contacted the company and demanded money. However, the drivers license numbers of 600 000 drivers in the United States were compromised. In a coincidentally timed announcement shortly before Uber's hacking disclosure Tuesday, Whitman said she was stepping down as head of Hewlett Packard Enterprise Co.
Uber has set up a website for users who have been affected.
It's been reported that nobody's credit card information, bank details or dates of birth were stolen in the hack.
This is one of the larger breaches to have been disclosed by a major firm, but should you be anxious? "No doubt Uber has surpassed this threshold and violated many of them by not disclosing the breach for over a year". SoftBank declined to comment on whether the security breach could lead it to renegotiate terms of its proposed deal.
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