US EditionSouth Korea Online Retailer Coupang Faces US Securities Class Action over Massive Data Breach
The class action alleges Coupang delayed reporting a breach exposing 33 million accounts and misled investors about cybersecurity, prompting regulatory and parliamentary scrutiny.
- On December 22, 2025, a U.S. investor class action was filed in federal court in California alleging Coupang, CEO Bom Kim, and CFO Gaurav Anand misled investors after a cybersecurity breach, seeking damages for securities bought between August 6 and December 16.
- Coupang says it discovered on November 18 that a former Coupang employee retained access for months, with investigators finding overseas server access from June 24 to November 8.
- Coupang confirmed that 33.7 million customer accounts were exposed, including compromised data fields, while payment details and login credentials were not exposed, and nearly the entire Product Commerce division active users may be affected.
- The incident has prompted investigations in South Korea, a joint parliamentary hearing by five standing committees on Dec. 30 and 31, Park Dae-jun's resignation this month, and possible fines up to $900 million.
- Under current Korean law, the Personal Information Protection Act requires encryption only for payment data and unique identifiers, but fines can reach 3% of annual revenue, encouraging encryption beyond legal minimums.
13 Articles
13 Articles
Coupang Faces Investor Lawsuit Over Massive Data Breach
South Korean e-commerce giant Coupang is facing a class action lawsuit in the U.S. over a cybersecurity breach that exposed data of more than 33 million customers. The lawsuit alleges that Coupang misled investors about its data security practices and failed to report the breach timely under U.S. securities rules.
Coupang breach affecting 33.7 million users raises data protection questions
Coupang disclosed a data breach affecting 33.7 million customers after unauthorized access to personal data went undetected for nearly five months. Penta Security explains how the incident highlights insider credential abuse risks and why encrypting customer data beyond legal requirements can reduce exposure and limit damage. [...]
Coupang daily user count slips to 14 mil. range after data breach
Coupang's daily active user (DAU) count has fallen to the 14 million range following the e-commerce giant's disclosure of a massive data breach late last month, industry data showed Monday. Coupang's estimated DAU had stood at 14.88 million as of Friday, according to MobileIndex, a data platform operated by industry tracker IGAWorks. The figure marked the first time Coupang's daily user count dropped into the 14 million range since Oct. 25, when…
Coupang in Hot Water: US Investor Lawsuit Challenges South Korea’s E-commerce Giant over Massive Data Breach
read the original version on: www.retailnews.asia South Korea’s major e-commerce entity, Coupang, is facing a class-action lawsuit from investors in a US court over alleged violations of securities laws. The lawsuit is in relation to a significant cybersecurity breach that led to the exposure of personal information of over 33 million customers. The Allegations The class-action lawsuit, instigated last week in […] The post Coupang in Hot Water:…
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