Now it may be that the major data security risk most people face is hard drive failure, in which case having an off-site backup of one's personal files is worth risking the more remote chance of a compromise in the cloud.
But data breaches are a fact of life and many organizations with sophisticated IT security practices have been victimized by even more sophisticated cybercriminals. It's naive to think that consumer-oriented data storage services might be somehow immune.
Bank robber Willie Sutton, asked why he robbed banks, is widely believed to have said, "Because that's where the money is," despite < href="http://en.wikipedia.org/wiki/Willie_Sutton">a denial in his autobiography. For cybercriminals, online data storage services probably look at lot like banks, except without the high-end security.
Here's to hoping that HP locks Uptime's doors tight.