Time Inc. Says Myspace Was Hacked, User Information Stolen

By Trey WilliamsMarketsMarketWatch Pulse

Time Inc. on Tuesday confirmed user login data from its social networking site Myspace was being made available in an online hacker forum. The company said it was aware the data -- usernames, passwords and email addresses from Myspace's platform prior to 2013 -- had been stolen just before the long Memorial Day weekend, according to a news release. Time said Myspace has invalidated the passwords and is in the process of giving affected users a heads up, as well as working with law enforcement. "We take the security and privacy of customer data and information extremely seriously -- especially in an age when malicious hackers are increasingly sophisticated and breaches across all industries have become all too common," said Time's Chief Financial Officer Jeff Bairstow in a statement. The breach did not affect any of Time's systems, subscriber information and doesn't seem to contain any financial data, according to Time.

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