Summary
Co-op quickly discovered a cyber attack and avoided a more serious issue called ransomware, which locks up computer systems and demands payment. While customer data was still stolen, Co-op is recovering faster than M&S, another retailer hit by the same hackers, who are struggling with ongoing issues from the attack.
Key Facts
- Co-op detected a cyber attack intended to install ransomware, preventing further damage.
- Ransomware is a type of malicious software that locks systems and demands a payoff to unlock them.
- The attack still resulted in stolen customer data for Co-op.
- M&S was also attacked and is facing significant disruptions, including halted online orders.
- M&S confirmed customer data, excluding payment details, was stolen.
- M&S is losing approximately £43 million each week due to the attack's impact.
- Co-op is starting to restock shelves and recover from the attack.
- The same group, DragonForce, is believed to be responsible for the attacks on both retailers.
