The cyber security company, LastPass reported a massive breach in August 2022, which resulted in the theft of the cloud-based backup of all customer vault data, including encrypted passwords, usernames, and form-filled data.
The high-profile hack was followed by months of internal investigation by the tech company, where more details came to light, and subsequent investment and reinforced infrastructure has taken place.
The company has admitted to “increased in customer churn” since the incident but has a positive outlook that it will regain customer trust and return to the same customer levels as before the intrusion.
“We invested across platforms, infrastructure and systems — we believe all of which will mean a more modern and secure customer. This has been a multiyear and multimillion-dollar investment. We’re still looking for ways to continue to invest and we’re not done.” – Karim Toubba, CEO of LastPass
