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Cyberattacks testing consumer trust

Rebecca Zisser / Axios

Cyberattacks are becoming more sophisticated and more routine. Consider the most recent wave of hacks over the past two weeks:

  • May 1: The latest season of Netflix's popular "Orange is the New Black" was hijacked by hackers demanding a ransom.
  • May 3: Hundreds of thousands of Americans were subject to a Google Docs email phishing attack, giving hackers access to their contacts and documents.
  • May 12: The WannaCry ransomware attack caused more than 300,000 breaches across 150 countries in a three-day period, mostly affecting computers not updated with latest Microsoft software patches.
  • May 15: Hackers claimed to access Disney's latest "Pirates of the Caribbean" movie and threatened to release it unless the company paid a ransom.

Why it matters: As almost every aspect of daily life moves to the digital realm — autonomous cars, electrical grids will soon be controlled by internet-connected sensors — research shows that maintaining consumer trust is more crucial than ever before. Per Pew, roughly half of Americans feel that their personal information is less secure than it was five years ago. More data: