South Korea’s tech sector is reeling after a group of US investors filed a lawsuit against the country’s government, alleging negligence in handling the massive data breach at e-commerce giant Coupang.
Coupang’s Catastrophic Failure
In August 2021, Coupang, South Korea’s largest e-commerce platform, suffered a devastating data breach that exposed the personal data of millions of users. The hack, attributed to a group of North Korean cybercriminals, was a wake-up call for the country’s tech sector, with many experts warning of the devastating consequences of such attacks.
Avoidable Crisis
But what’s even more astonishing is that the breach was avoidable. Security experts have long warned of the vulnerabilities in Coupang’s systems, and the company had been notified of the potential risks months before the attack. Despite these warnings, Coupang failed to take adequate measures to secure its infrastructure, leaving users’ sensitive information exposed to the dark web.
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