Korea fines e-commerce giant $400m over data breach affecting millions
Summary
South Korea's Personal Information Protection Commission fined Coupang, the country's largest online shopping company, over $400 million for a major data breach. The breach exposed personal information of more than 30 million users, over half the population, and involved weaknesses in data security measures.Key Facts
- Coupang was fined 624.68 billion won (over $400 million) for a data breach.
- The breach exposed names, contact details, delivery addresses, and order histories of about 37.5 million users.
- This incident is the largest data breach fine ever issued by South Korea's data privacy authority.
- The breach started around June and was discovered officially in November.
- Coupang initially reported a smaller breach affecting 4,500 accounts but later found millions more affected.
- Weak security practices, like poor management of authentication keys, led to the data exposure.
- Coupang's CEO resigned after the breach, and an interim CEO was named.
- The company plans to challenge the fine and said it will improve security.
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