What we learned from Snowflake’s billion-dollar data breach

Snowflake, a cloud data platform, revealed a significant data breach that allegedly granted cybercriminals access to data from high-profile customers including Santander and Ticketmaster. The breach, characterized by stolen user credentials from single-factor authentication accounts, has triggered cybersecurity investigations and a 20% drop in the company’s stock price. The attack exposes vulnerabilities in cloud data platforms, as well as the importance of robust security procedures and continuous improvements, particularly in multifactor authentication.