Cyberattacks on UK Retailers Cost £80M, Arrests Made
A series of cyberattacks on major UK retailers, including Co-op, M&S, and Harrods, have resulted in significant financial losses and arrests. The total damage in the first half of the year is estimated at £80 million ($106.7 million).
In April, Co-op's retail chain fell victim to a cyberattack, leading to a £206 million (about $274 million) revenue loss. The incident caused substantial disruption to the Co-op's food business, with reduced product availability and in-store supply issues persisting weeks after the incident. Co-op CEO Shirine Khoury-Haq confirmed that staff were working tirelessly to protect systems and restore operations.
The hackers behind these attacks are believed to have connections to the Scattered Spider group. In July, four individuals, including a minor, were arrested in relation to the Co-op, M&S, and Harrods hacks. Despite Co-op's efforts to avoid ransomware by disconnecting its networks, all 6.5 million members had their data stolen.
The cyberattacks on Co-op, M&S, and Harrods have caused substantial financial damage, with the total loss in the first half of the year reaching £80 million ($106.7 million). The arrests of four individuals, including a minor, in connection with the hacks suggest that authorities are making progress in their investigation. The Co-op, however, continues to face challenges in restoring full operations and reassuring its members following the data breach.
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