PlayStation Resumes Service After Christmas Day Hack, Sony Stocks Soar

PlaystationA hack attack is the last things on everyone’s minds come Christmas Day, but it happened to major video game giants Sony and Microsoft. The attack gave users of the platforms PlayStation Network (PSN) and Xbox Live a hard time logging on and playing games.

‘Back Online’

“UPDATE: PlayStation Network is back online,” said Sony in an online statement on December 27. The blog post comes after days of being outage and inaccessibility throughout the network. The tech giant also clarified that the issue was rampant attacks across multiple networks, and not a simple connectivity issue as some speculated.

Xbox Live has also been restored as of posting.

The Xbox Live network has a 48-million strong user base, while the PSN caters to over 110 million active users.

Sony Stocks Soar

Earlier this year, Sony had forecast a possible loss of USD 1.9 billion for the fiscal year. The recent hacking of the corporate emails of the Sony Pictures Entertainment also added to the possible losses.

Despite the attacks and the controversies, Sony’s stocks remained bullish throughout the trading days. For 2014, Sony is one of Japan’s top performing stocks, boasting a 43% upturn. The company beat gains of about 9 percent cross benchmark indexes Nikkei 225 and Topix.

Bloomberg compares the return of Sony to that of Apple’s performance back when the latter experienced a similar situation.

The rise is a likely effect of the company’s moves this year to stop being a slow-growth business and fast-track its own progress. It has sold its computer division Vaio a Japanese investment fund in February. It also went through a restructuring move to improve its efficiency.

 ‘Because we can’

Hacking group Lizard Squad claimed responsibility for the string of distributed denial-of-service (DDoS) attacks on the two networks. As for the motive, a member of the group – a 22-year-old who goes by the alias Member Two – said they pulled off the hack “because we can.”

In an interview with BBC Radio 5live, however, Member Two hinted a few more motives for the attack. One such reason is to expose the weak points of both networks’ systems. The other reason relates more to Christmas.

“Is Christmas really about children playing with their new consoles, or playing with their new toys, or is it about them spending time with their families and celebrating Christmas?” he said.

Lizard Squad had claimed responsibility over different hack attacks in the past as well. Previous attacks hit Destiny and EA Games, to name a few.