Coupang Hit by Massive Data Breach, 33 Million Customers Affected

South Korea's e-commerce giant Coupang experienced its worst data breach, leaking personal information of over 33 million customers. The breach exploited authentication vulnerabilities and may involve a former employee. This has prompted calls for improved personal data protection laws and potential class action lawsuits.

In South Korea, police are delving into the technical vulnerabilities at e-commerce leader Coupang following a major data breach, the worst in over a decade. On Monday, Coupang shares plunged around 9% in premarket trading as the fallout unfolded.

More than 33 million customers' personal data was leaked starting June 24 via overseas servers. Despite the breach being discovered only in November, it is believed that authentication vulnerabilities in Coupang's systems were exploited, with a Chinese former employee suspected as a key figure. The leaked data includes names, emails, phone numbers, and order histories but excludes payment details.

The breach has triggered a public outcry, with over 10,000 individuals eying a class action lawsuit seeking compensation from Coupang. This incident underscores South Korea's broader data protection issues, as highlighted by several major breaches since 2021, prompting calls for stronger punitive damages to deter such compromises.

(With inputs from agencies.)