LinkedIn Russian Compliment – Bizarre Motivation or Long Tail Identity Theft $LNKD #socialmedia

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LinkedIn (NYSE:LNKD) received the greatest compliment in the digital world. They were hacked. Apparently a group of nasty ruskies have compromised some six point five million passwords. If you are one of the six point five million your password does not work and LinkedIn is sending a separate email on how to reset.

The corporate governance issue will be who left what back door open. The security industry is assured of more job security and revenues. LinkedIn shareholders bid up the stock on a big up day in the market. No one is sure there will be any economic losses to LinkedIn except for some over time in the IT department.

Not sure why the ruskies did it. Except maybe they were practicing for something better. I don’t think you can move money or securities. If you’re looking for information on someone you can join free and access to your heart’s content.

LinkedIn may have some suspicions but any public comment would only be speculation and just play to the hackers. General Eisenhower did not dialogue directly with German generals for obvious reasons.

So the chess game continues in the shadows with occasional public information. Of course if you use the same password for LinkedIn as you do for your banking and other financial affairs you may have a problem.  The banks and financial institutions will never disclose significant security breaches until it’s all over and your account has been cleaned out and your cheques are bouncing.

So this may be just one move to rob about seven million bank accounts. Social media is like walking down the street. You have to watch your pocket and know where your wallet is at all times.

George Gutowski writes from a caveat emptor perspective.