In 2013, Target experienced a devastating cyber attack that compromised the payment card details of 41 million customers along with the contact information of about 70 million individuals. This cyber incident is one of the most significant attacks in retail, highlighting the severe vulnerabilities associated with third-party vendors and the systemic risks within retail network infrastructures. The hackers initiated the breach through a spear phishing attack aimed at a third-party vendor, gaining unauthorized access to Target's network. Subsequently, they deployed malware to collect sensitive customer data over two months. The financial repercussions of this cyber attack were monumental, with Target incurring approximately $290 million in costs related to legal settlements, remediation efforts, consulting, and other associated expenses. The breach not only led to substantial financial losses but also severely damaged Target's reputation and trust with customers, marking a pivotal moment that emphasizes the importance of cybersecurity vigilance in the retail sector.
Source: https://arcticwolf.com/resources/blog/10-major-retail-industry-cyber-attacks/
"id": "tar514050424",
"linkid": "target",
"type": "Breach",
"date": "09/2023",
"severity": "100",
"impact": "5",
"explanation": "Attack threatening the organization’s existence"