M&S Faces £300M Loss After Cyberattack Involving DragonForce and Scattered Spider

Marks & Spencer has resumed its online services after a serious cyberattack earlier this year that disrupted its operations and is expected to slash profits by £300 million. The British retail giant’s digital operations were hit hard, and recent developments suggest the breach may have been orchestrated by multiple hacker groups. 

A hacking group known as DragonForce is now linked to the incident. According to reports by the BBC, the group sent an email to M&S CEO Stuart Machin shortly after the attack, boasting about their success and demanding ransom. The message, written in aggressive and alarming language, implied the group had encrypted the retailer’s servers.

DragonForce, which has rebranded itself as a “Ransomware Cartel,” operates by offering malware tools to affiliates in exchange for a percentage of ransom earnings. 

Originally emerging in 2023, the group has become increasingly active on major dark web forums in recent months. While some cybersecurity experts believe the group is based in Malaysia, others speculate ties to Russia. They have also been linked to a similar attack on the Co-op.

Meanwhile, another group, Scattered Spider, had earlier been suspected of executing the attack. Known for its advanced social engineering techniques, the group is composed primarily of young hackers from the US and UK. They have previously impersonated IT personnel and used SIM swapping tactics to breach organizations. 

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