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Hackers’ kept Adobe’s (NASDAQ:ADBE) Source Code on Unprotected Server

Hackers’ kept Adobe’s (NASDAQ:ADBE) Source Code on Unprotected Server


Hackers’ kept Adobe’s (NASDAQ:ADBE) Source Code on Unprotected Server

Hackers’ kept Adobe’s Source Code on Unprotected ServerNEW YORK – On Friday, PC World Magazine reported that the recent security breach that affect Adobe System’s (NASDAQ:ADBE) network was discovered after the source code of several products including the web application development platform ColdFusion was stored on an unprotected web server open to the internet.

Internet security experts claim that the breach affected almost 3 million encrypted customer credit card records.  However, the company is still investigating how hackers were able to access the data, which Alex Holden, chief information security officer of Hold Security, independently found what turned out to be the company’s source code on a hacking gang’s server.  Adobe’s source code “was hidden, but it was not cleverly hidden,” Holden said.

Using the source code, hackers could easily find vulnerabilities in Adobe’s products.  To date, no new zero-day vulnerabilities — the term for vulnerability that is already being exploited but does not have a patch — have surfaced in the last couple of months since the source code was taken.

In filings to the Securities and Exchange Commission, Adobe acknowledged breach, but said it did ‘not believe that the attacks will have a material adverse impact on our business.’  Adobe also wrote later in the filing that their efforts to fight cyber-attacks ‘may not be successful’ and cause the loss of customers incur potential liability and cost the company money.

The server in question had attracted interest in the past as it is believed to be operated by the same gang that broke into the networks of data aggregators LexisNexis, Dunn & Bradstreet (NYSE:DNB) and Kroll Background America as reported by security analyst and journalist Brian Krebs.  The Russian-speaking gang — which does not have a name yet — is still active.

Currently, the company is adding more than 20,000 subscribers per week, compared to 8,000 per week only a couple of months ago.  That represents a twofold growth in new subscribers per week in less than a quarter.  However, the security breach could affect the confidence of consumers and investors.

Shares of Adobe opened Friday at $ 51.01.

About Eric Kelso

Eric Kelso covers market updates and stock related news.

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