Apple ID Hack And Phone Number Change Leave Users Without iCloud, No Help From iPhone Maker
Portfolio Pulse from Rounak Jain
Packy McCormick, a cryptocurrency advisor to Andreessen Horowitz, experienced a security breach when his Apple ID was hacked, resulting in the loss of access to his iCloud data. Despite having control over the associated email, Apple Inc. (NASDAQ:AAPL) was unable to restore his access after the hacker changed the phone number linked to the account. This issue has been reported by numerous users over several years, yet Apple has not addressed the problem. The breach highlights a significant flaw in Apple's two-factor authentication system, which, instead of enhancing security, has left users with hacked accounts more vulnerable.
November 27, 2023 | 3:04 pm
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Apple Inc. faces criticism after a security breach involving its two-factor authentication system resulted in users, including Packy McCormick, losing access to their iCloud accounts. The issue, which has been reported for years, remains unaddressed by Apple, potentially affecting customer trust and the perception of Apple's security measures.
The news of the iCloud security breach and Apple's inability to resolve the issue could negatively impact investor sentiment in the short term. The breach undermines the perceived reliability of Apple's security measures, which is critical for user trust. As security is a significant concern for technology users, this incident could potentially lead to customer dissatisfaction and harm Apple's reputation, possibly affecting sales and stock performance.
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