Victoria’s Secret Shutdown: What You Need to Know About the Recent Security Breach

Victoria’s Secret is facing challenges after a cyberattack disrupted its online presence. The company’s website has been down for several days, affecting its online sales and dragging down its stock price. Victoria’s Secret decided to take its website and some services offline as a safety measure, but physical stores remained open.

As of Thursday morning, the company’s stock had dropped by 8% since Tuesday. While the exact timing of the attack isn’t clear, customers noted issues on social media earlier this week. It’s uncertain who targeted Victoria’s Secret, which is based in Reynoldsburg, Ohio. This incident adds to a growing list of cyberattacks on major retailers, raising concerns about how well companies protect customer data.

Earlier this month, another retailer, Marks & Spencer, experienced a similar incident that hindered online orders for weeks. They reported that some personal data had been compromised but assured customers that sensitive information like payment details was secure. Meanwhile, Harrods, a luxury department store, briefly faced online disruptions due to security measures.

Cody Barrow, CEO of Eclectic IQ, a cybersecurity firm, emphasizes that such cyberattacks highlight the weaknesses in retail security systems. He believes that many retailers have not adequately segmented their systems to contain security breaches. “Third parties are often the biggest blind spot,” he said, stressing the need for better oversight.

Ransomware attacks have become more common, affecting various sectors, including healthcare. According to a report by Cybersecurity Ventures, cybercrime is expected to cause damages amounting to $10.5 trillion annually by 2025. This alarming growth underscores the importance of robust cybersecurity measures for all businesses, particularly in the retail sector where customer trust is paramount.

As we witness these trends, consumers are increasingly aware of the risks associated with online shopping. The recent surge in discussions about data privacy on social media indicates that customers are more vigilant and concerned than ever about their online security.

To learn more about how to protect your data while shopping online, you can refer to guidelines provided by the Federal Trade Commission here.

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Computer Security,Lingerie and Underwear,E-Commerce,Privacy,Computers and the Internet,Cyberattacks and Hackers,Shopping and Retail,Victoria’s Secret