Inside the cyberattack that cost M&S £650 million in days
M&S tells agency staff to stay home as fallout of cyberattack sees value drop by £650m
Hackers from the Scattered Spider network used social engineering tactics to breach Marks and Spencer and Co-op systems, causing significant disruption and financial losses.
The hackers tricked IT help desk workers into granting them access, according to sources who spoke to the BleepingComputer website, leading to a cyberattack that cost M&S £650m in lost value.
The attacks disrupted online services, including contactless payments and click-and-collect orders.
The National Cyber Security Centre (NCSC) has issued new guidance to organisations on strengthening their security practices, particularly password reset processes.
Scattered Spider, known for targeting casinos and demanding ransoms, is suspected of being behind the attacks, with one alleged member recently extradited to the US.