One of South Korea's largest retailers, the E-Land, had to close almost half of its stores after one ransomware attack.
Ο Chang-Hyun Seok, CEO of E-Land Retail, confirmed the attack and said that the ransomware was installed at E-Land headquarters on November 22.
According to local news agency Yonhap, E-Land shut down part of its corporate network to limit the damage. Police have already begun investigating the ransomware attack.
"Intensive measures were taken to end it server, to prevent further damage. As a result, some stores were closed. We apologize to our customers", Said Seok.
Depending on the ransomware, some may have been stolen data (Data theft before encryption is a trend in the last year).
The news of the attack came at a time when the well-known antivirus provider McAfee had begun to warn retailers in the Asia region about cyber attacks both during Black Friday week and during the upcoming festive season.
Her report McAfee, published in July, had reported that cyber attacks on retailers rise 15% in first quarter of this year. This year, more and more people are turning to online shopping because of it COVID-19. This means that we expect even more attacks.
McAfee advises all e-commerce companies to have a page on their website, which will provide advice to customers on what to look out for to avoid scams. Employees must also be trained in immediate threat detection.
"If a retailer falls victim to a successful cyber attack, the results can be devastating. Loss of reputation, financial impact, loss of trust and even closure of services. It's not funny", Said McAfee.
Source: Inside Retail