Shares of Coupang (CPNG) were launched higher at Friday’s open after the company assured customers that the scope of the recent hack of user data was limited and not shared with third parties.
“The perpetrator has been identified, and that all devices used in the data leak have been retrieved. The investigation to data indicates that the perpetrator retained limited user data from only 3,000 accounts and subsequently deleted the user data,” Coupang said in a statement on their website.
On December 16, Coupang Corp, a wholly-owned Korean subsidiary of Coupang Inc (CPNG), reported a cybersecurity incident from June which exposed the private information and order history of as many as 33 million customer accounts.
The disclosure of the breach followed a raid of the company’s headquarters by South Korean police to assess the scope of the cyberattack, driving Coupang (CPNG) shares sharply lower and leading to the resignation of CEO Park Dae-jun.
The subsequent investigation later found the former employee responsible for the hack obtained information from just 3,000 customers from a stolen security key. The perpetrator retained a “very small” amount of user data and attempted to conceal the hack by destroying the device that was used. All devices have been subsequently retrieved by investigators.
With the stock up more than 9% on Friday, losses tied to the cybersecurity event have been recovered.