Get All Access for $5/mo

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

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.

Innovation

Use This Scientific Approach to Transform Your Idea Into a Million-Dollar Success

Even when approaching the unknown, we always have a tool to draw conclusions for better-informed decision-making — the scientific method.

Starting a Business

She Started a Business When She Couldn't Satisfy a European Craving in the U.S. — and It Made More Than $30 Million Last Year

Johanna Hartzheim, co-founder of baked goods subscription company Wildgrain, seized an opportunity to pivot during the pandemic.

Business News

Google Co-Founder Sergey Brin Is Back at the Company 'Pretty Much Every Day.' Here's What He's Working On.

Brin publicly confirmed for the first time that he's back at Google and working on AI.

Business News

Big Wall Street Banks Are Limiting Workweek Hours — to 80

Junior bankers are reporting 100-plus hour workweeks. Now, Wall Street's overwork culture is back under scrutiny.

Leadership

Why Every Leader Should Write a "How to Work With Me" Manual

Do your team members really know how you work? Here's why creating a manual to your working style and preferences is so essential as a leader.