b2b-daily
Home | IT | Cyber Security

Magento Flaw Exploited: Payment Data Theft on E-Commerce Sites

Avatar photo
by Paige Williams
April 8, 2024
Magento Flaw Exploited: Payment Data Theft on E-Commerce Sites

Cybercriminals exploited a critical vulnerability identified as CVE-2024-20720 in the Magento e-commerce platform, seizing payment data from users. With a severity score of 9.1, this vulnerability enabled arbitrary code execution due to inadequate element security. Although Adobe released a fix in their February 2024 update, numerous breaches had already occurred.

The exploit was first spotted by Sansec, revealing the attackers’ skill in crafting a specialized database template and using a pre-packaged exploit to run unauthorized commands. They inserted a backdoor on the checkout page that surreptitiously implanted a Stripe payment skimmer. This malicious tool secretly captured payment information during transactions, unbeknownst to shoppers or site owners. Despite the February patch from Adobe, the incident illustrates the importance of promptly updating software to protect against such vulnerabilities.

A Global Challenge: Safeguarding Payment Information

The threat landscape is vast, with recent events highlighting its severity. Russian officials recently detained six individuals for infecting over 159,000 international credit cards with skimming malware since 2017, showcasing the enduring risk to financial and retail sectors. This incident serves as a stark reminder that digital transactions are a double-edged sword, offering convenience but exposing us to advanced cyber threats.

Retailers must now be proactive in their cybersecurity measures. Adopting rigorous software maintenance routines and partnering with cybersecurity firms like UnderDefense for external vulnerability scans is crucial. Recognizing that complacency isn’t an option, businesses must leverage the expertise of threat intelligence and vulnerability management professionals. This proactive stance is essential for defending against the stealthy maneuvers of cybercriminals, safeguarding data, and maintaining consumer trust. Only perpetually updated defenses will keep enterprises one step ahead in this ongoing cyber battle.

Digital TransformationInformation Security

Explore more

Why Corporate Wellness Programs Fail to Fix Workplace Stress
February 26, 2026

The modern professional often finds that for every dollar spent on a meditation app by their employer, nearly one hundred and fifty dollars are drained from the global economy due to systemic burnout and disengagement. This economic disparity highlights a growing tension between the wellness industry, which has grown into a juggernaut worth sixty billion dollars, and the eight point

How to Fix the Workplace Communication and Feedback Crisis
February 26, 2026

The silent erosion of professional morale often begins not with a grand failure of strategy but with the subtle, persistent friction caused by poorly articulated managerial guidance. This disconnect between managerial intent and employee performance represents a significant hurdle for modern organizations, as traditional critique methods frequently lead to burnout rather than improvement. Addressing the central challenge of workplace communication

How Can You Close the Feedback Gap to Retain Top Talent?
February 26, 2026

When elite professionals choose to resign, the departure frequently stems from a prolonged absence of meaningful dialogue regarding their trajectory within the organization and the specific expectations surrounding their professional contributions. This silence creates a vacuum where uncertainty flourishes, eventually pushing high achievers toward the exit. Research indicates that nearly half of all employees who voluntarily leave their roles cite

Can AI Infrastructure Redefine Wealth Management?
February 26, 2026

The once-revolutionary promise of digital wealth management has hit a ceiling where simply layering more software atop crumbling legacy systems no longer yields a competitive edge for modern firms. This realization has sparked a fundamental shift in how the industry approaches technology. Instead of pursuing cosmetic updates, firms are now looking at the very bones of their operations to find

Family Office Models Reshape Korean Wealth Management
February 26, 2026

The skyline of Seoul no longer just represents industrial might but also signals a historic accumulation of private capital that is forcing the nation’s most prestigious financial institutions to rewrite their playbooks entirely. The traditional private banking model, once centered on the 1-billion-won investor, is undergoing a radical metamorphosis. As of 2026, a burgeoning class of ultra-wealthy households has redefined