VF Corporation , which is behind well-known brands (e.g. Vans, Timberland, The North Face, Dickies and Supreme), said that the December ransomware attack led to the breach of data of 35 million people.
The US company said that the social security numbers, bank account details and payment card details of affected customers were not at risk, as this data on its systems.
See also: Foxsemicon: Foxconn subsidiary falls victim to Ransomware
It also has not found evidence (so far) that proves that consumers' passwords were obtained by the attackers .
VF Corporation disclosed the ransomware attack on December 15, saying that the attackers “disrupted the company’s business operations, encrypted certain systems , and stole data, including personal data.”
As a result of the attack, VF Corp was forced to shut down some of its systems to contain the breach. Various problems were created in business operations, such as delayed order fulfillment, order cancellations, and more.
See also: Are ransomware attacks damaging the mental health of security pros?
It has since restored the systems that were encrypted, but continues to deal with some minor issues.
The company has not yet provided details on the nature of the data affected by the breach. We also do not know if VF Corporation employees , suppliers, resellers, and partners have been affected
The apparel and footwear company is currently working with federal law enforcement and relevant regulators asit investigates the attack and its impact.
See also: Ransomware gang uses TeamViewer for initial access
The consequences of a data breach, especially when it involves such a large company, can be multifaceted and far-reaching. First, there is the loss of trust from customers . This can lead to lost business opportunities and a decrease in the company's credibility.
Second, data breaches can lead to legal repercussions. Companies can face fines and penalties from regulatory agencies, and they may also face lawsuits from customers or other stakeholders.
Third, a data breach can have significant financial implications. Recovering from a data breach can be costly, with the need to invest in new security technologies, restore systems, and deal with legal costs.
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Finally, data breaches can lead to long-term repercussions for the rest of the business. It can affect the company's ability to operate effectively, invest in new products or services, or even survive in the marketplace.
Source: www.bleepingcomputer.com
