Brazilian e-commerce company Americanas reports millions of dollars lost after a cyberattack

Brazilian e-commerce conglomerate reported a loss of millions of dollars in its financial results on Friday after a major cyberattack earlier this year.

The company lost R $ 923 million ($ 183 million) in sales after two attacks between February 19 and 20 that made its e-commerce business unavailable. According to the company, physical stores continued to operate, and the company’s logistics department continued to receive orders after the event.

“We have called on world-renowned experts in this situation to empower our internal teams and security partners in resolving and investigating this case,” the company said in its financial statements. rice field.

According to American Eggplant, operations were gradually resumed from February 23, and the activity was completely resumed the next day. “There is no evidence of any other damages other than the fact that our e-commerce business has been shut down,” the company said.

Despite the impact of the accident, the company reported a 22% increase in total sales compared to the same period last year. According to the company’s results, digital sales increased 20% in the first quarter of this year as sales resumed in the weeks following the incident. The company said sales growth would have reached 30% if no cyberattacks had occurred.

The author of the American eggplant attack is understood to be the Lapsus $ group. This is a group that launched a large-scale ransomware attack on the Brazilian Ministry of Health in December 2021 and made COVID-19 vaccination data for millions of citizens unavailable.

According to analyst firm IDC, Brazil’s total IT security spending is projected to reach nearly $ 1 billion this year, an increase of 10% compared to 2020. Research firms predict that companies will increase the number of cyberattacks in 2022. A trend that has increased its pace since the start of the COVID-19 pandemic.

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