VF Corporation, the U.S.-based owner of apparel brands including Vans, Supreme, and The North Face, has confirmed a cyberattack has impacted the company’s ability to fulfill orders ahead of Christmas, one of the biggest retail events of the year.
When reached by email, VF Corp. spokesperson Colin Wheeler provided TechCrunch with a statement that echoed the company’s filing with regulators.
In its regulatory filing, VF Corp. warned that the cyberattack would have a “material impact” on its business until its systems are recovered.
VF Corp disclosed the incident on the same day that the U.S. Securities and Exchange Commission’s new data breach disclosure rules came into force.
This regulation means that organizations must report cybersecurity incidents, including data breaches, to the federal government’s securities regulator within four business days.
Why extortion is the new ransomware threat Ransomware actors are increasingly rebuffing encryption-based attacks in favor of plain extortion.
While novel, this isn’t the only aggressive tactic used by ransomware and extortion gangs.
What’s the difference between ransomware and extortion?
The Ransomware Task Force describes ransomware as an “evolving form of cybercrime, through which criminals remotely compromise computer systems and demand a ransom in return for restoring and/or not exposing data.”In reality, ransomware attacks can fall on a spectrum of impact.
This was demonstrated in the recent ransomware attack against Caesars Entertainment, which paid off the hackers in a bid to prevent the disclosure of stolen data.
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The recent ransomware attack that was uncovered earlier this week has resurfaced with some old tricks that hackers have used in the past. This new campaign seems to be targeting…
