In November 2022, the company detected suspicious activity in a third-party cloud storage service that LastPass shares with an affiliate, GoTo. LastPass revealed details of the initial security incident on August 25, 2022, notifying customers that attackers had taken some of the company’s source code and technical information. When hackers compromise these software applications, the entire industry of identity and access management (IAM) takes notice.Īs an alliance of tech giants leads a global push toward passwordless technology, security breaches like this beg the question: What is the future of password managers? How Bad Was the LastPass Hack? Password managers have one vital job: keep your sensitive login credentials secret, so your accounts remain secure. Although company CEO Karim Toubba assured customers they had nothing to worry about, the incident didn’t inspire confidence in the world’s leading password manager application. In November 2022, LastPass had its second security breach in four months.
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