Marks & Spencer (M&S) is grappling with a significant cyberattack that has disrupted its online operations for nearly a week, leading to a £700 million drop in market valuation. The breach has halted online clothing and homeware orders, affected contactless payments, and impacted store returns. Approximately 200 agency workers at M&S’s Leicestershire distribution center were instructed to stay home due to reduced order volume. The company is collaborating with cybersecurity experts and has reported the incident to the Information Commissioner’s Office (ICO) and the National Cyber Security Centre. While M&S has not confirmed the nature of the attack, experts suggest it may be ransomware-related. The retailer is working to restore services and has apologized for the inconvenience caused to customers. (ft.com)
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