Netflix Inc. Has A Bigger Problem In Store For It

Looks like the streaming media company has some real competition coming towards it; it need to improve its security system.

Netflix Inc. has expanded in over 190 countries worldwide during its expansion spree and charges only $9.99 per month for the customers to avail the service – which is a great deal for majority of the users of the streaming media giant. However, a problem has surfaced for the company as a black market for the online streaming service has been discovered that is charging as less as 25 cents per account.

It has been established that during its expansion spree, the streaming media organization forgot to take into account those people who want the same service for cheaper. Online hackers have been around for way too long. They have managed to target bank accounts, credit cards, social media account etc. – and now their target is Netflix Inc.

According to a research report conducted by Symantec, which is an American Cyber Security Firm, stated that a black market has emerged that is claiming to provide the same service provided by the streaming media leader for cheaper rates; the research company was conducting an analysis of how the hacking industry works.

For the users who want the service for cheaper rates have an alternative way through which they can avail the service, hackers are marketing and selling hacked legitimate Netflix accounts to customers for a lesser price, according to the research analysis by the cyber security firm. These accounts are being sold at a price of 25 cents which is not even half the price that the company is actually charging its users. The security firm shows concern over the matter stating that people would prefer to go for these cheaper stolen accounts as they will be able to start their own ‘illegal store’ and further starting selling these illegitimate accounts.

As per the research, these stolen accounts are actual accounts of real customers who are paying their monthly subscription charges for the streaming service that they are availing. The hackers have somehow managed to gain access to Netflix’s database specifically their usernames and passwords and have managed to make a way to make money off of it.

Symantec stated that there are two ways through which these hackers might have gained access to the usernames and password of actual company accounts. One of these two ways is through malware and/or they might have gained access through phishing – in which the hackers pretend to be a bank or an online service through which they gain accessibility to the users’ login information.

A number of users have confirmed that they have received emails that stated that they are from Netflix. These fake emails ask the users to confirm their login credentials. As soon as the user puts its credentials into the email, they are directed to a fake website and not the official website of the streaming media company. So whatever information they type in the email is sent to the hacker.

Furthermore, the information could also be leaked through malware if the users accidentally download something on their computers. These malwares are designed in such a way which makes it seem like Netflix’s original software and according to the research the service is mostly affected users in Brazil – but this is a simple Trojan virus that creeps up into the customer’s computer and steals their information.