Topic: financial impact
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Clorox Sues Vendor Over $380M Hack Due to Password Mishandling
Cyberattacks frequently target human vulnerabilities, as seen in Clorox's $380M breach caused by lax authentication practices by its IT vendor, Cognizant. Hackers easily bypassed security by impersonating employees, obtaining unauthorized access through Cognizant's unverified password resets and ...
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Bumble Cuts 30% of Workforce in Major Layoffs
Bumble is cutting 30% of its workforce (around 240 jobs) to streamline operations and focus on key priorities, expecting annual savings of $40 million. The layoffs will cost $13–18 million in one-time expenses, but Bumble’s stock surged 20%, and the company raised its Q2 revenue forecast to $244–...
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Scattered Spider’s Retail Breach Was One Coordinated Hit, Not Two
UK officials have confirmed that cyberattacks on M&S and Co-op this spring were not isolated incidents but part of a single, coordinated campaign by the group known as Scattered Spider. Exploiting human error rather than technical flaws, the attackers triggered up to $592 million in damages—exposing how fragile major retail systems remain in the face of socially engineered breaches.
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Krispy Kreme Employee Data Exposed in Security Breach
Krispy Kreme experienced a major data breach in November 2024, exposing sensitive financial and personal information of over 160,000 individuals, primarily employees and their families. The compromised data included financial credentials, Social Security numbers, and medical records, prompting th...
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