Hungarian Pepco was hit by a serious hacker attack

By: Trademagazin Date: 2024. 02. 28. 12:18

The hacker attack on the Pepco discount network caused approximately 15 million euros in damage to the company, which is equivalent to approximately HUF 5.9 billion at today’s exchange rate, according to the company’s statement, which Reuters drew attention to.

According to the company’s official announcement, the case is still under investigation. The attack appears to have no impact on customer, supplier or staff data. Although the company currently does not know if they will be able to recover the stolen amount, they are cooperating with the investigative authorities and their banking partners to mitigate the damage.

Pepco emphasized that despite the attack, the company’s balance sheet was not damaged and the company’s liquidity exceeds 400 million euros. Their revenues are also strong, which ensures the company’s financial stability. The Hungarian Pepco network has a total of 248 stores, and according to their report for the first quarter of 2024, the company recorded revenues of 1.9 billion euros.

The company emphasizes that everything is being done to mitigate the damage caused by the incident, and the ongoing investigation is aimed at preventing similar attacks in the future. Pepco remains committed to the data security of its customers, employees and business partners.