A Web3 executive believes that the data breach at multinational telecommunications company AT&T could have been avoided if their data was stored on the blockchain.
On July 12, AT&T disclosed in a filing with the United States Securities and Exchange Commission (SEC) that it had suffered a data breach, potentially compromising their customers’ data.
The breach involved attackers accessing and copying call logs stored with a third-party cloud provider. These logs included records of calls, texts, and phone numbers. While the content of communications wasn’t compromised, there are concerns that hackers could use the data to determine customer identities.
AT&T Breach Highlights Problems with Web2 Services
Tim Kravchunovsky, the founder and CEO of the decentralized telecommunications network Chirp, believes this breach underscores the vulnerabilities of traditional networks.
“This was the second breach report, suggesting these incidents are becoming the rule rather than the exception,” Kravchunovsky said. He also criticized the delay in reporting the breach, adding, “It’s concerning that it takes more than two years to report these breaches, so there is no guarantee something similar isn’t happening right now.”
The executive warned that such breaches put millions of customers at risk, allowing hackers to identify their homes, workplaces, and connections, thus making them easier targets for fraudsters.
Kravchunovsky argued that current technological solutions are inadequate and new ones are necessary. He suggested that blockchain technology could provide a more secure method for storing sensitive data, preventing such breaches in the future.
Summary Review: The AT&T data breach serves as a reminder of the limitations and vulnerabilities of traditional data storage methods. As Kravchunovsky points out, adopting blockchain technology could be a crucial step in enhancing data security and protecting customer information from cyber threats.
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