What I Learned From Getting My eBay Account Hacked

An unfortunate and largely self-imposed hack of his eBay account gave Fool contributor Tim Beyers an up-close look at how the auctioneer deals with breaches. He shares his findings in the following video.

In this case, Tim says a hacker cracked his overly simple seven-letter password and immediately changed his address and contact information. eBay quickly detected fraud in the buying spree that followed and canceled each of the related transactions. But the case wasn't closed.

Efforts to change his password and contact details proved elusive, even after getting a rep on the phone, Tim says. That the process took so long bodes poorly. After all, good security is only half the equation when it comes to carving out a larger-than-average slice of the growing e-commerce pie. Online sales could eclipse $1.6 billion on Black Friday alone, according to a new forecast from Adobe.


Should investors be concerned? Tim answers this question and more in the video. Please watch now and then leave a comment to let us know what you think.

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The article What I Learned From Getting My eBay Account Hacked originally appeared on Fool.com.

Fool contributor Tim Beyers is a member of the  Motley Fool Rule Breakers stock-picking team and the Motley Fool Supernova Odyssey I mission. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's web home and portfolio holdings or connect with him on Google+Tumblr, or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.The Motley Fool recommends and owns shares of Amazon.com and eBay. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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casseemareej

Tim, your lucky that you didn't get totally screwed to the wall. Your "OWN" ability to save yourself is all that "mattered". ebay belongs to a particular "society" now that allows them to "damage" anyone that they chose to "damage".

You would be doing yourself a favor if you totally "CLOSED" your current ebay and Paypal accounts and moved on.

Please feel free to act responsibly and take the blame for the "hack". You will be joining hundreds of thousands that also responsibly accepted ebay's BS. All it says for you is that you are a responsible person. But rest assured that all of us responsible people out here are figuring out that we weren't responsible at all and that the "HO" is all "SHOW".

November 20 2013 at 9:20 AM Report abuse rate up rate down Reply