Introduction
GoDaddy, the web hosting and domain registration giant, has experienced several cybersecurity incidents that have exposed the company to a significant risk of loss, litigation, and regulatory inquiries.
March 2020 Incident
In March 2020, GoDaddy discovered that a threat actor had compromised the hosting login credentials of around 28,000 hosting customers and some personnel.
While these credentials did not provide access to the customers’ main GoDaddy account, the incident required significant resources to investigate, remediate, and comply with regulatory requirements.
July 2020 and October 2021 Civil Investigative Demands
In July 2020 and October 2021, the Federal Trade Commission (FTC) issued Civil Investigative Demands related to GoDaddy’s data privacy and security practices. These inquiries are ongoing and could result in significant legal and financial consequences.
November 2021 Incident
This incident impacted up to 1.2 million active and inactive Managed WordPress customers across multiple GoDaddy brands.
December 2022 Incident
December 2022, an unauthorized third party gained access to and installed malware on GoDaddy’s cPanel hosting servers. The malware intermittently redirected random customer websites to malicious sites.
Risks of Cybersecurity Incidents
Cybersecurity incidents can expose companies to a risk of loss, litigation, and regulatory inquiries. Past incidents may increase the risk of higher sanctions or reinvigorated investigations.
Consequences of Cybersecurity Incidents
Cybersecurity incidents can harm a company’s business, financial condition, and operating results. The consequences can include reputational damage, loss of customer trust, and financial penalties.
Mitigating the Risk of Cybersecurity Incidents
Companies can mitigate the risk of cybersecurity incidents by investing in cybersecurity measures and regularly updating their systems and procedures. Vigilance is key to protecting customer data and complying with regulatory requirements.
Conclusion
GoDaddy’s cybersecurity incidents highlight the importance of cybersecurity for all companies. The risks and consequences of cybersecurity incidents are significant and require proactive measures to mitigate.
Godaddy Cybersecurity Cyber Security Awareness Risk Finstein
