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The Scottrade breach could increase the potential for brokerage fraud, says Tom Kellermann, chief cybersecurity officer at threat-intelligence firm Trend Micro. "Cybercriminals understand the financial sector more than we give them credit for," he says. "As we have realized this year, hackers are pursuing front-running and virtual-insider trading schemes."

According to Christopher Budd, a global threat communications manager at security firm Trend Micro, the inability to protect sensitive data despite encryption efforts suggests the hack could be bigger than initially thought.

The earlier Stagefright flaws prompted researchers to probe Android's multimedia processing libraries for additional vulnerabilities. Researchers from antivirus vendor Trend Micro have since found and reported multiple issues in these components.

Access to these accounts can go for exorbitant fees on the black market, said Tom Kellermann, chief cybersecurity officer at security research firm Trend Micro, which released a report last year on Pawn Storm, a likely Russia-based cyber espionage campaign snooping on government officials.

Trend Micro's Raimund Genes on Building Effective Defense Strategies