Following close on the heels of the major Sony hack that exposed millions of accounts to criminals, LastPass notified its subscribers of a major hack on their service, exposing about one and a quarter accounts to these cyber criminals. LastPass is a company that offers enhanced security for an all purpose single password that allows the user to access bank accounts, shopping and various sites requiring passwords. The convenience of using one password for all accounts was the selling point.

LastPass CEO, Joe Siegrist, has stepped forward to try to give some insight. In an interview with PC World, Siegrist admits that perhaps he acted too quickly in sounding the alarm, but the results of a review of their security logs sparked great concern. He wanted to get a warning out to his users as quickly as possible, since security is such a hot issue right now, and everyone has learned lessons from the Epsilon and Sony breaches that have occurred lately.