Bigger than Target? Home Depot Credit Card Breach: “It May Be Time to Consider Bitcoin”

Home Depot

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NEW YORK (InsideBitcoins) — In a credit card breach that may be many times more significant than the Target hack last year, Home Depot has admitted that it is “looking into some unusual activity” regarding the security of customer payments. Security blog Krebs on Security reported early this afternoon that multiple banks had reported seeing evidence that Home Depot stores were the source of stolen credit and debit card information for sale on the black market.

Brian Krebs says “there are signs that the perpetrators of this apparent breach may be the same group of Russian and Ukrainian hackers responsible for the data breaches at TargetSally Beauty and P.F. Chang’s, among others.”

As many as all 2,200 Home Depot stores in the U.S. could have been involved in the security breach that may extend back to late April or early May of this year, Krebs says.

“If that is accurate — and if even a majority of Home Depot stores were compromised — this breach could be many times larger than Target, which had 40 million credit and debit cards stolen over a three-week period,” he added.

Just two weeks ago, the Secret Service and the Department of Homeland Security issued an advisory warning that more than 1,000 businesses in the U.S. had likely been unwitting victims of the Target breach perpetrators.

“The current system using credit card data is flawed,” loss prevention expert Adam Smith, senior regional manager of asset protection for Winn-Dixie, wrote in Loss Prevention Magazine earlier this year. “There are hacks currently taking place that have yet to be discovered. It seems like there is a daily story regarding a major retailer being hacked. It may be time to consider Bitcoin.”

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