Cyber Chaos: Marks & Spencer and Co-op Face £440M Blow from Major Cyberattack!
The Cyber Monitoring Centre estimates Marks & Spencer and Co-op cyberattacks cost between £270M and £440M. The incidents, deemed “narrow and deep,” primarily impacted business operations, not IT systems. M&S alone expects a £300M hit, highlighting the need for better cyber hygiene and crisis management.
Hot Take:
**_Brace yourselves, dear shoppers! The hackers have entered the department store and wreaked havoc with a price tag that could reach a whopping £440M. Forget about the sales, it’s all about the cyber fails now! Marks & Spencer and Co-op are not just dealing with digital dragons but also a financial inferno. Who knew that shopping for trouble could be this costly?_**
Key Points:
– Cyberattacks on Marks & Spencer and Co-op deemed a Category 2 event with losses estimated between £270M and £440M.
– The DragonForce group claims responsibility, targeting Co-op’s membership data and Marks & Spencer.
– Co-op confirmed data breach affecting both current and past members, with millions potentially impacted.
– The attacks caused significant business disruption, with M&S expecting a £300M hit in the 2025/26 financial year.
– CMC stresses the importance of crisis plans and cyber resilience to prevent future incidents.