PlayStation hack Sony Apologises for attack on Network

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Sony chief Sir Howard Stringer has spoken about the security breach of the PlayStation Network for the first time, apologising to the users affected and unveiling a $1m identity theft insurance policy to protect each user in the future.

Stringer has remained tight-lipped about the two attacks on the PSN carried out last month which saw personal information of as many as 100m gamers stolen.

However, Stringer has been forced to take action to try and control the crisis as Sony's share price fell by as much as 4% in trading on Thursday as investors worried about the ultimate cost of the attacks.

In a blog post, Stringer said that there is "no confirmed evidence any credit card or personal information has been misused, and we continue to monitor the situation closely".

Stringer announced plans to introduce more stringent security measures to "protect your information better than ever" and unveiled a $1m identity theft insurance policy per user to "cover identity restoration costs, legal defense expenses, and lost wages that occur within 12 months after the stolen identity event" – but only for US gamers.

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