Marks & Spencer faces $402 million profit hit after cyberattack

Marks & Spencer faces 2 million profit hit after cyberattack

Keypoints

  • Marks & Spencer suffered a cyberattack causing system outages and significant sales impact.
  • The breach involved ransomware encryption of VMware virtual machines using DragonForce ransomware.
  • The threat actor group Scattered Spider is linked to the attack and other UK retail breaches.
  • The attack led to data theft of customer information and operational disruptions across stores and online platforms.
  • UK cybersecurity authorities warn that such attacks are a wake-up call for retail sector defense improvements.

Read More: https://www.bleepingcomputer.com/news/security/marks-and-spencer-faces-402-million-profit-hit-after-cyberattack/