Coupang Faces Class Action Over Data Breach

South Korean e-commerce giant Coupang, dubbed the Amazon of South Korea, is embroiled in a class action lawsuit over a massive data breach, affecting over 33 million customers. The suit alleges the company violated securities laws by not disclosing the breach promptly. The breach, discovered in November, exposed personal info, but payment details and login credentials remained secure. The CEO of Coupangs main subsidiary resigned, and authorities are investigating. The lawsuit, filed in December, accuses Coupang of downplaying cyber risks and seeks damages for investors. Coupang has yet to comment, but all eyes are on how theyll handle the legal battle and regain trust.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.