⚡ Get All Content for 20% Off ⚡

Home Depot Reports Bigger Breach Than Target; Criminals Used Custom Malware Home Depot's cyberattack put 56 million credit cards at risk, significantly more than Target's breach.

By Kate Taylor

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Target's data breach was bad, but Home Depot's is worse.

Home Depot announced Thursday that 56 million credit and debit cards were put at risk in the cyber-attack on its payment terminals. The company says that the malware used in the five-month breach from April to September has now been eliminated from its U.S. and Canadian networks.

For perspective, Target's infamous holiday breach compromised 40 million payment card numbers, along with 70 million other pieces of customer data.

The home improvement chain says it was alerted to the breach on Sept. 2 and began investigations immediately. Home Depot reports that criminals used unique and custom-built malware, which had not been seen in previous attacks.

Related: Why Uncovering a Network Security Breach Can Take Weeks or Months

Any terminals identified with malware have been taken out of service and the malware has been eliminated from the company's systems. New payment security protection is now in use, with enhanced encryption technology.

Home Depot's project to develop new encryption tech launched shortly following Target's breach in December. Since Target's hack, Neiman Marcus, P.F. Chang's and Michaels have all have made headlines for major data breaches. While it is convenient that Home Depot now has a new high-tech encryption system across the U.S., the questions remains: Could earlier action have prevented the hack?

More and more chains are battling targeted cyberattacks – and the hackers are winning. If execs aren't willing to step up and make security a top priority, they are likely to face the consequences personally. Just ask former Target CIO, Beth Jacob, and CEO, Gregg Steinhafel.

Related: Viral App 'Yo' Hires Its Hacker

Kate Taylor

Reporter

Kate Taylor is a reporter at Business Insider. She was previously a reporter at Entrepreneur. Get in touch with tips and feedback on Twitter at @Kate_H_Taylor. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Remote Side Hustle a 43-Year-Old Musician Works on for 1 Hour a Day Earns Nearly $3,000 a Month: 'All From the Comfort of Home'

Sam Ziegler wanted to supplement his income as a professional drummer — then his tech skills and desire to help people came together.

Business News

Costco CFO Reveals Uncertain Fate of $1.50 Hot Dog and Soda Combo

CFO Richard Galanti reveals that the price will stay the same — but only "for a while."

Business News

The Most Unexpectedly Popular Side Hustle of the Decade Has Low Startup Costs and High Markups

A new report shows that vending machines are a popular investment — and the industry is set to grow up to $3 billion by 2031.

Marketing

Ever Wonder Why Certain Websites Rank Higher Than Yours? This SEO Expert Reveals The Secret to Dominating Search Results

It's often the smart use of SEO, now supercharged with AI, particularly in keyword optimization.

Business News

AI Is Impacting Jobs. Here Are the Gigs Affected the Most, According to an Analysis of 5 Million Upwork Postings

The researcher said in the report that freelance jobs were analyzed first because that market will likely see AI's immediate impact.

Leadership

Former Interrogator Shares 5 Behaviors Liars Exhibit and How to Handle Them

Five deceptive behaviors to look for and how to respond to those behaviors when you encounter them.