Global retail giant Victoria’s Secret recently faced serious trouble when a cyber attack forced the company to shut down its website and halt all online orders. They alerted customers about a “security incident,” leaving the site unusable.
The company reassured shoppers with a message: “We are working to resolve the issue. In the meantime, our stores are open.” However, the situation caused confusion. Employees were told to stay home for a couple of days while the problem was addressed, and they worried about potential paychecks.
While the physical stores remained operational, many functions were out of order. For instance, customers couldn’t use gift cards, process returns, or access any online orders. One staff member expressed concern about being compensated during this downtime, highlighting the uncertainty workers face during tech mishaps.
Victoria’s Secret has about 1,350 stores globally and saw its stock drop by about seven percent, closing at $20.99. They enlisted third-party experts to assist with the cyber issue but didn’t share many details about the attack.
This isn’t the first major brand to face cyber threats. Just days before Victoria’s Secret’s incident, Adidas revealed it was also targeted. They confirmed that certain consumer data was stolen, although no sensitive information like passwords or credit card details were compromised. Adidas quickly initiated an investigation and contacted affected customers.
The rise in cyber attacks across various sectors raises concern. According to a report by Cybersecurity Ventures, global ransomware damages could reach $265 billion by 2031. This trend highlights the importance of robust cybersecurity measures for companies today.
Historically, bigger brands have often been prime targets for hackers, translating into significant financial and reputational losses. In recent months, Marks & Spencer and Co-op also reported severe cyber attacks, leaving their online operations crippled.
As companies continue adapting to digital transformations, ensuring strong cybersecurity has never been more critical for protecting both consumer data and operational integrity.
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