News Imgur warns of 1.7 million account data breach

I mean, if they don't know it's happened, how can they tell anyone?

 

If you want to store customers data, you should need mandatory insurance.
The insurance companies can then evaluate how safe the data is stored thus how much they gotta pay.
Companies will hold less data and hold it more securely.

Then each customer gets comp every time it's stolen - that's pretty much all of us, now or in future

 

Hopefully the GDPR will fix some of these issues, since imgur will be holding private data (email addresses, etc.) of EU citizens they will be accountable and they must notify of a breach within 72 hours.

It's understandable that these breaches do happen, security is a hard game and social engineering is very effective if someone wants to get into their database. What isn't acceptable is using SHA-256 to hash passwords all the way up to LAST YEAR. Absolutely shocking practise for a silicon valley company.