EBay tells its users to change their passwords after hack attack

May 21, 2014: 10:18 AM ET

Warning comes in wake of cyberattack that affected the retailer's corporate network.

FORTUNE -- EBay Inc. (EBAY) is encouraging its users to change their passwords in the wake of a cyberattack that compromised some employee log-in credentials, which resulted in unauthorized access to the online retailer's corporate network.

"Beginning later today, eBay users will be notified via email, site communications and other marketing channels to change their password," eBay said in a prepared statement. EBay had 145 million active buyers at the end of the first quarter.

The company said there was no evidence the cyberattack resulted in unauthorized activity for eBay users, nor was there evidence that financial or credit card information was accessed. Still, eBay said users should change their passwords to "help enhance security."

"It is really common for fraudsters to try to exploit well-known brand names," said Amanda Miller, a spokeswoman for eBay. "We have robust global customer service and are taking steps to work with our customers to make sure their data is secure moving forward."

MORE: Massive cyberattack hits Internet users

Cyberattacks are an increasing concern for companies and individuals, with billions of dollars lost every year to repair systems hit by such attacks. eBay is among a handful of companies, including Target Corp. (TGT) and Sally Beauty Holdings Inc. (SBH), to disclose an attack to their system in recent months.

In a prepared statement, eBay said the cyberattacks compromised "a small number of employee log-in credentials." The company, which is working with law enforcement and security experts, said the database that was compromised didn't contain financial information. The attack occurred between late February and early March, eBay said.

EBay also said there was no indication of increased fraudulent account activity on its site.

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