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The Bottom Line: StubHub security scare

Updated: Thursday, July 24 2014, 12:13 AM EDT
NEW YORK -- A security scare for the website StubHub, as officials say they've broken up a major cyber theft ring.

The Manhattan District Attorney says hackers broke into about 1,600 customer accounts on StubHub, the ticket resale website, using stolen passwords.

The hackers then allegedly bought thousands of tickets to various sporting events, concerts and shows - resold the tickets on other websites - and split the profits.

Officials say it was a total of $1.6 million in fraud.

"These were tickets from some of the most sought after events in the Tri-State area," says Manhattan District Attorney Cyrus Vance, Jr. "The defendants have been indicted on felony charges, including money laundering, grand larceny and criminal possession of stolen property."

A total of six people have been indicted in the international ring. 

StubHub says it's already refunded customers who were hacked.

Experts say hackers who get a hold of passwords for one site, will often try them at another.

The Bottom Line?  It's a good reminder to use different passwords, for different websites. The Bottom Line: StubHub security scare

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