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Coupang Shares Drop 9% After Massive Data Breach Exposes 33 Million Customer Records
Coupang Shares Drop 9% After Massive Data Breach Exposes 33 Million Customer Records
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BTCCSquare news:
Coupang Inc. shares tumbled 9% in premarket trading following disclosure of South Korea's largest data breach in over a decade. The e-commerce giant confirmed unauthorized access to customer names, contact information, and order histories—though payment details remained secure.
The breach originated from overseas servers on June 24 but went undetected until November 18. A former Chinese employee allegedly exploited an active authentication key after contract termination to access sensitive data.
Legal repercussions mounted as 10,000 affected customers organized a class action seeking $68 per person in damages. South Korean regulators simultaneously launched investigations into potential violations of personal information protection laws.
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