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Investment research data breach exposes 12 million customers

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Investment research data breach exposes 12 million customers

If there is one sector that has outdone healthcare in data breaches and ransomware attacks, it is finance. 

Security incidents affecting financial institutions are becoming increasingly common, whether they involve banks, fintech companies or investment research firms. 

The latest case involves Zacks, an American investment research company. A cybercriminal claimed to have stolen 15 million customer and client records, but a separate investigation later confirmed the actual number to be 12 million.

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Illustration of a hacker at work. (Kurt “CyberGuy” Knutsson)

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What you need to know 

The Zacks Investment breach first came to light in late January 2025 when a hacker known as “Jurak” claimed on BreachForums that they had gained access to Zacks’ systems as early as June 2024. 

According to the hacker, they obtained domain administrator privileges for Zacks’ active directory, a critical network security component, allowing them to steal source code for Zacks.com and 16 other websites, including internal tools, along with user account data. The stolen information was then put up for sale on hacker forums, with samples offered for a small cryptocurrency payment to prove authenticity, as reported by BleepingComputer.

Further investigation confirmed the breach occurred in June 2024, exposing 12 million unique email addresses and other personal data. The fact that the attacker managed to gain domain admin access suggests a highly sophisticated attack, potentially exploiting vulnerabilities in Zacks’ network security. 

This is not the first time Zacks has suffered a breach. Previous incidents include a 2022 attack that compromised an older Zacks Elite product database from 1999 to 2005, as noted on Zacks’ own breach disclosure page.

Threat actor’s post on BreachForums. (BleepingComputer)

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THE HIDDEN COSTS OF FREE APPS: YOUR PERSONAL INFORMATION

What data got compromised

The Zacks Investment data breach, confirmed by Have I Been Pwned (HIBP), exposed a range of sensitive user information, putting those affected at risk. The leaked data includes email addresses, IP addresses, names, phone numbers, physical addresses, usernames, and unsalted SHA-256 hashed passwords.

This kind of information can be misused for phishing, identity theft, credential stuffing, harassment, SIM swapping and even physical threats. Alarmingly, 93% of the leaked email addresses had already been exposed in previous breaches, making reused passwords an even bigger problem. The use of unsalted SHA-256 hashes — widely considered outdated — only adds to the risk, making it easier for attackers to crack passwords and compromise accounts.

Despite the severity of the breach, Zacks Investment Research has yet to release an official statement as of February 2025. The lack of transparency is troubling, especially considering the scale of the breach and Zacks’ history with security incidents.

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A person scrolling on a phone. (Kurt “CyberGuy” Knutsson)

FROM TIKTOK TO TROUBLE: HOW YOUR ONLINE DATA CAN BE WEAPONIZED AGAINST YOU

7 ways you can protect yourself after a data breach like this

1. Beware of phishing attempts and use strong antivirus software: After a data breach, scammers often use the stolen data to craft convincing phishing messages. These can come via email, text or phone calls, pretending to be from trusted companies. Be extra cautious about unsolicited messages with links asking for personal or financial details, even if they reference recent orders or transactions. The best way to safeguard yourself from malicious links is to have strong antivirus software installed on all your devices. This protection can also alert you to phishing emails and ransomware scams, keeping your personal information and digital assets safe. Get my picks for the best 2025 antivirus protection winners for your Windows, Mac, Android and iOS devices.

2. Invest in identity theft protection: Given the exposure of personal data, such as names, addresses and order details, investing in identity theft protection services can provide an extra layer of security. These services monitor your financial accounts and credit report for any signs of fraudulent activity, alerting you to potential identity theft early on. They can also assist you in freezing your bank and credit card accounts to prevent further unauthorized use by criminals. See my tips and best picks on how to protect yourself from identity theft.

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3. Enable two-factor authentication (2FA) on accounts: Enabling two-factor authentication adds an extra layer of security to your online accounts. Even if hackers get hold of your login credentials, they won’t be able to access your accounts without the second verification step, such as a code sent to your phone or email. This simple step can significantly reduce the risk of unauthorized access to sensitive personal information.

4. Update your passwords: Change passwords for any accounts that may have been affected by the breach, and use unique, strong passwords for each account. Consider using a password manager. Get more details about my best expert-reviewed Password Managers of 2025 here.

5. Remove your personal data from public databases: If your personal data was exposed in this breach, it’s crucial to act quickly to reduce your risk of identity theft and scams. While no service can guarantee the complete removal of your data from the internet, a data removal service is really a smart choice. They aren’t cheap — and neither is your privacy. These services do all the work for you by actively monitoring and systematically erasing your personal information from hundreds of websites. It’s what gives me peace of mind and has proven to be the most effective way to erase your personal data from the internet. By limiting the information available, you reduce the risk of scammers cross-referencing data from breaches with information they might find on the dark web, making it harder for them to target you. Check out my top picks for data removal services here.

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Kurt’s key takeaways

The Zacks Investment breach highlights just how real the threat of cyberattacks is for financial institutions. With millions of users affected and personal data exposed, the risks of scams and identity theft are higher than ever. The fact that Zacks hasn’t said much about the breach only adds to the uncertainty for those impacted. As these types of attacks become more common, it’s more important than ever to stay on top of your online security — use unique passwords, keep an eye on your accounts, and stay alert for any signs of suspicious activity.

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Should there be stricter regulations for how companies disclose breaches and protect customer data? Let us know by writing us at Cyberguy.com/Contact

For more of my tech tips and security alerts, subscribe to my free CyberGuy Report Newsletter by heading to Cyberguy.com/Newsletter

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No, Flock isn’t threatening people for debating surveillance

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No, Flock isn’t threatening people for debating surveillance

We’re aware of at least two forged letters circulating on the internet, including this one, that purport to be cease-and-desist letters from our legal department. To be clear: these letters did not come from me or from anyone at Flock.

Flock welcomes and encourages public debate about our technology. We have not and would not seek to discourage, prevent, or prohibit such discussion and debate. In fact, we would be happy to participate in any such discussions the group in question might host in the future.

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Fake VA shoe offer targets veterans

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Fake VA shoe offer targets veterans

NEWYou can now listen to Fox News articles!

A flyer offering “free athletic shoes from VA” may look official at first glance. It uses VA-style branding, talks about health and wellness and even lists the MyVA phone number. That is what makes it so dangerous.

VA says the message falsely claims Veterans can receive free athletic shoes from VA. The agency says the promotion did not come from VA and has no connection to any official VA program.

The scam appears to be spreading through a flyer and online posts. It tells Veterans they may be eligible for free athletic shoes “at no cost to you.” It also shows popular shoe brands, steps to “redeem” shoes and a process that appears to involve a VA provider.

That may be enough to get someone to click, call, share or forward before they stop to think.

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MEDICAL IDENTITY THEFT FOLLOWS YOU INTO THE DOCTOR’S OFFICE

Veterans are being warned not to click links, scan QR codes or share personal information tied to a fake VA shoe offer. (Kira Hofmann/picture alliance via Getty Images)

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Fake VA shoe offer: what VA says

VA says the free athletic shoe promotion is fake. It did not come from an official VA program, including VPRs, Central Office or Whole Health.

That is important because the flyer borrows the look and feel of a trusted government agency. It also uses health language to make the offer sound like a wellness benefit.

But let’s be real here. A free pair of shoes can sound harmless until the next step asks for your personal details.

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Why the fake VA shoe flyer looks so believable

This scam works because it mixes familiar names with an official-looking design. The flyer uses VA branding, a health-focused message and well-known athletic shoe brands.

It also presents the offer as a benefit. That can make people feel like they may miss out if they do not act.

Scammers know that veterans and families often deal with a lot of paperwork, benefit updates and health care messages. A fake flyer can slide into that confusion and feel more believable than it should.

How scammers use real VA details to build trust

One sneaky detail stands out. The flyer lists the MyVA number, but that alone does not make the flyer real.

Scammers often mix real information with fake offers. A real phone number, real logo or familiar agency name can make people lower their guard.

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That is why you should verify the offer through VA.gov, your official VA account or your local VA facility before responding.

What the fake VA shoe offer could steal

The flyer may look like it is only about shoes. The bigger risk comes next.

A fake offer like this could lead to a phishing page, a bogus form, a QR code trap or someone asking for sensitive details. That could include your Social Security number, VA login information, health information, address, bank details or credit card number.

Scammers may also use the information to target you again. Once they know you responded to a fake VA offer, they may try a follow-up call, text or email.

DR OZ WARNS MEDICARE SCAMMERS ARE STEALING BILLIONS — AND YOUR PERSONAL INFORMATION COULD BE NEXT

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A fake flyer claiming Veterans can get free athletic shoes from VA is spreading online, but the agency says it is not tied to any official program. (U.S. Department of Veterans Affairs)

What to do if you see the fake VA shoe offer

Do not share it. Do not forward it. Do not fill out a form. Do not scan any code connected to it.

Also, do not provide personal, financial or health information because of this flyer.

Instead, warn veterans, family members and colleagues without spreading the image. A quick heads-up can help someone avoid a costly mistake.

Ways to stay safe from VA scams

A few smart habits can help you spot fake VA messages before they turn into a bigger problem.

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1) Verify the offer through VA.gov

Go directly to VA.gov or use your official VA account. Do not rely on a flyer, social media post, text message or forwarded image.

2) Do not scan QR codes or click links

A scam flyer may send you to a fake website that looks official. Type the web address yourself or search for the VA page directly.

3) Never share VA login details

Do not give anyone your VA.gov username, password or sign-in code. VA says it will not ask you to share login credentials in an email.

4) Protect personal and health information

Treat your Social Security number, address, date of birth, medical information and benefits details as sensitive. A free offer should never require that kind of information from a random form.

QR CODE EMAIL SCAM TARGETS EMPLOYEE REVIEWS

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VA says veterans should verify suspicious benefit offers through VA.gov, an official VA account or a local VA facility. (Antonio Diaz / Getty Images)

5) Call VA using a trusted number

If you have questions, contact VA through an official phone number, the VA website or your local VA facility. Do not trust contact details from a suspicious flyer alone.

6) Report the fake VA shoe offer

Veterans who suspect fraud can report it through VSAFE.gov or call 1-833-38V-SAFE. Reports help VA and other agencies track scams that target veterans.

7) Use strong antivirus protection

Strong antivirus software can help protect you if you click a bad link, scan a risky QR code or land on a fake website tied to a scam. Good protection can block malicious pages, warn you about suspicious downloads and help stop malware before it does damage. Get my picks for the best 2026 antivirus protection winners for your Windows, Mac, Android and iOS devices at Cyberguy.com.

8) Consider a data removal service

Scammers often use personal details found online to make fake offers feel more believable. A data removal service can help reduce how much of your information is sitting on people-search sites, including your address, phone number and other details that can be used to target you. Check out my top picks for data removal services and get a free scan to find out if your personal information is already out on the web by visiting CyberGuy.com.

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9) Take action fast if you responded

If you already clicked, scanned, called or shared information, change your VA.gov password right away. Use a trusted password manager to create and store a strong, unique password you do not use anywhere else. Turn on multifactor authentication if you have not already done that. Then watch your accounts for suspicious activity.

10) Warn others without forwarding the flyer

Tell family members, friends and veteran groups that the offer is fake, but do not send the flyer along with your warning. Even if your goal is to help, someone else may miss your warning, save the image or share it again. Instead, send a short message that says the free VA shoe offer is a scam and tell them to verify any VA benefit through VA.gov or their local VA facility.

Kurt’s key takeaways

A free pair of shoes can make you drop your guard, especially when the flyer uses VA branding and familiar shoe names. That is the whole trick. Scammers are using trust to push veterans and families toward a bad link, a fake form or a request for personal info. Slow down and verify it through VA.gov or your local VA facility. And if you want to warn someone, send them a message saying the offer is fake instead of forwarding the flyer itself. That keeps the scam from spreading.

Would this fake VA shoe offer have made you pause, or would the official-looking design have fooled you? Let us know by writing to us at CyberGuy.com.

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I spent a week using the Trump phone — it sucks

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I spent a week using the Trump phone — it sucks

The Trump phone was never a serious phone. Not when it was announced last June, in dodgy renders and with an incoherent spec sheet. Nor when Trump Mobile admitted — just two weeks later — that it wouldn’t be made in the US. Not even when the company revealed the final phone, first to me over a video call in February and then to the world in April through a short commercial with the slick sheen of AI.

It’s now on sale for $499, past the days of its tenuous, ever-shifting release dates. A few buyers even have the phone, The Verge among them, though more still seem not to.

It’s clear now that the T1 is a real phone, but that doesn’t mean it’s a serious one. Still, for the next thousand words or so, I will try to take it seriously.

$499

The Good

  • It actually exists
  • 3.5mm headphone jack
  • MicroSD card slot
  • It basically runs stock Android

A serious phone wouldn’t look like this

The T1 Phone is a curved slab of cheap gold plastic, the smartphone equivalent of a pair of knockoff wraparound Oakleys. The gold finish — more yellow in certain light, though it certainly does shine and shimmer — is tacky in every sense, with a sticky friction that makes it feel distinctly unpleasant to the touch. My phone arrived with a tiny scratch in the top-right corner.

The phone is fairly thin, and light, but its excessively curved waterfall display feels immediately dated. It also loses one of the chief advantages of that design — better in-hand feel — thanks to the oddly angular frame, which juts into my palm as I hold it.

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Almost every detail speaks to bad design. There’s the American flag logo, missing a stripe. The fact that “Trump Mobile” appears on the back twice, in two different orientations and two different fonts. Or the camera module, where the three lenses are spaced at irregular intervals.

Count the stripes.

I don’t think anything about this phone annoys me as much as the lens spacing.

God, I miss notification LEDs.

A headphone jack is less uncommon, but still pretty rare.

There are things to like. The 3.5mm headphone jack will have its fans, as will the microSD card slot inside the phone, or the fact that the phone ships with a case, charger, and braided USB cable. These are things that a certain type of Android fan has lamented the absence of for years.

I, for one, am more excited to be reviewing a phone with a notification light again, a true treat that I thought we’d lost forever. It’s a glimpse of a better world, one I didn’t expect from Trump Mobile of all companies. But like the curved screen, even these welcome touches betray that this is a dated, old-fashioned phone, one based on an old HTC design that already felt like a throwback two years ago.

A serious phone would work outside the US

I live in the UK, meaning I may well have the only Trump phone outside of North America. It cannot maintain any signal stronger than 2G, meaning I can use it for texts and calls but not for data. As best as I can tell from digging through the T1’s FCC certification documents, the phone simply doesn’t support the network bands commonly used in Europe.

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The T1 Phone isn’t sold in Europe, and that misshapen flag makes its target market clear. But even Americans get to go on vacation every once in a while. From my experience, it seems unlikely that the T1 would work anywhere in Europe and perhaps not anywhere in the world outside North America.

A serious phone would use more than the minimum hardware

At first glance, the T1’s spec sheet might seem impressive enough: a 120Hz OLED screen, a 5,000mAh battery, a triple rear camera with 50-megapixel sensors.

But the truth is you could find similar specs on almost any $200 Android phone and superior ones on phones sold at this price. Hardware like this is cheap and commodified, something that’s only beginning to change thanks to the ongoing memory crisis. Here, amusingly, the T1 is generously specced: 512GB of storage and 12GB of RAM come as standard. Those, along with the inclusion of wireless charging, are the only things that really stand out on this spec sheet.

Real gold, guaranteed.

Real gold, guaranteed.

Despite all that RAM, and Qualcomm’s modestly capable Snapdragon 7 Gen 3 chipset, the T1 is often sluggish. It sometimes stutters when switching apps or triggering animations, making even basic apps like Duolingo frustrating to use. This hardware isn’t flagship, but it should certainly be more capable than this. I can only assume Trump Mobile didn’t develop the sort of software and firmware performance optimizations that other manufacturers do, handicapping the phone from the start.

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1/16

I took the T1 Phone out with me around London to test the camera.
Photo: Dominic Preston / The Verge

I suspect the camera’s limitations are for similar reasons. The three rear lenses and single selfie camera take basic, functional photos, at least in good light — with the exception of the 8-megapixel ultrawide, which is uniformly poor.

Other phone manufacturers spend millions optimizing their image pipelines, and none of that work is evident here. Daylight photos are vivid and oversaturated, nighttime shots are noisy, and the telephoto shows no signs of electronic stabilization at all, making it feel shaky and unstable. Incredibly, by default every shot is overlaid with a strangely small T1 watermark — as if anyone should want to take credit for these photos.

1/12

While David Pierce took the excuse to test it in DC.
Photo: David Pierce / The Verge

A serious phone would have made more effort in its software

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As the Trump phone lurched haltingly toward its launch, the going assumption from many was that it would be a bloated mess, loaded with spyware, crypto apps, and MAGA-themed experiences, putting the president’s leering face front and center.

The truth is rather more mundane. It runs Android — the nearly two-year-old Android 15, to be precise — with almost no modifications at all. This is, in fact, about as close to what the nerds call “stock” Android as you’re ever likely to get these days.

The only preinstalled apps that are out of the ordinary are Truth Social, Trump’s own social media network, and Doctegrity, a telehealth platform that’s included with Trump Mobile’s $47.45 cell service. Beyond that you get a single Trump Mobile wallpaper and those photo watermarks, and that really is that.

In a sense, that’s a good thing — I’m hardly lamenting the lack of bloatware. But there’s also no sign that Trump Mobile has the ability or the intent to optimize its phone’s software or deliver any features beyond the minimum.

Truth Social comes preinstalled, though you can get rid of it.

Truth Social comes preinstalled, though you can get rid of it.

More worryingly, Trump Mobile hasn’t announced how long it will support the phone with software updates. When I spoke to executives from the company in February, they seemed confused by my question about how many Android version updates the phone would receive, though they did insist that customers won’t “be locked into what’s there today.” For now, that means a 2024 version of Android with a February 2026 security patch; I wouldn’t hold my breath for either to be updated any time soon.

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A serious company would put more effort in

In a strange way, the T1 Phone isn’t all that terrible, but only because it proves how hard it actually is to make a truly terrible phone these days. It’s easy enough to throw together the baseline hardware, stick Android on top, and call it a day. For better or worse, that’s more or less exactly what Trump Mobile has done. Between the simple software and the dated hardware features, the T1 is an oddly compelling phone for some old-school Android fans, but Trump Mobile got there entirely by mistake.

Premium.

Premium.

This isn’t a serious phone. It’s a marketing stunt that got out of hand, a way to grab attention and juice the subscriber count for an overpriced cell service with the president’s name on it.

Trump Mobile doesn’t care about this phone. And after the year of reporting on it that’s led to this review, I’m thrilled to finally say: Neither should you.

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