Krispy Kreme Doughnuts Cyber Attack Detected
Krispy Kreme Doughnuts faced a cyberattack in November 2024, which was revealed in an official SEC filing earlier this month. The breach impacted their daily operations but did not affect individual stores. The company’s background operations suffered disruption, leading to certain operations being shut down. Despite this setback, deliveries to bakeries and other partners remain unaffected.
The investigation is still ongoing, and the full scope and impact of the breach are yet to be determined. It’s uncertain whether it was a ransomware attack, a phishing scam, or another form of cyber hack. No hacking groups have claimed responsibility, but there has been a rise in cyberattacks on US companies by nation-state hackers from Russia and China.
Although Krispy Kreme expects some financial impact, it’s unlikely to cause the business to shut down. Following the disclosure, the company’s stock price declined by over 2%, indicating investor concern. However, Krispy Kreme holds cybersecurity insurance that is expected to cover a portion of the costs resulting from the breach. This incident is not anticipated to have a long-term material effect on the company’s financial standing.
