Coupang reports that culprit stored information of 3000 clients in SEC filing despite backlash

after Coupang shared the same information in its announcement last week regarding the outcome of their internal investigation. The Seoul Science Minister, Bae Kyung-hoon, contested this claim, stating that the data breach impacted over 33 million customers in South Korea.

Coupang stated in the SEC filing that although approximately 33 million accounts were accessed, the perpetrator only retained data from around 3,000 customer accounts. They emphasized that this limited data had been erased and not shared with any third party. However, the credibility of Coupang’s investigation results has been questioned in Korea, with concerns raised about the firm conducting a “self-investigation” that has damaged public trust in the platform.

In the filing, Coupang acknowledged the possibility of different outcomes in the ongoing investigation and mentioned the potential discovery of additional information that could affect the situation. Science Minister Bae expressed doubts about Coupang’s decision to unilaterally disclose their investigation results, suggesting potential malicious intent behind the move.

To address the issue, Coupang announced a customer compensation program to provide vouchers worth 1.69 trillion won (US$1.2 billion) to affected customers starting January 15th. This program aims to alleviate the fallout from the cybersecurity incident as more impacted individuals consider legal action against Coupang and contemplate canceling their memberships.

Coupang’s efforts to contain the repercussions of the data breach come as an increasing number of affected individuals plan to pursue legal action against the company, resulting in a growing demand for accountability. With public trust in Coupang shaken by the incident, the company faces mounting pressure to address the concerns of its customers and rebuild its credibility.

The situation underscores the challenges that companies face in safeguarding customer data and maintaining transparency in the wake of cybersecurity incidents. As Coupang navigates the fallout from the data breach, restoring trust and implementing robust security measures will be crucial in regaining the confidence of users and stakeholders.