ASOS Stock Plunges 9.6% After Hackers Send Ransom Demand via App

ASOS shares dropped 9.56% on Tuesday after hackers sent an unauthorised push notification to millions of app users claiming they had compromised the retailer’s data systems. The message, addressed to ASOS’s data protection officer and IT teams, marked a rare public extortion attempt. ASOS confirmed that basic personal information including names and contact details may have been accessed, but said payment card data and passwords were not affected.

How the attack unfolded

At around 10:00 on Tuesday morning, ASOS app users received a notification titled “ASOS HACKED” with a message stating: “Dear Asos DPO and IT, we have fully compromised the Snowflake instance.” The notification contained a link to Telegram. ASOS initially did not comment, leaving customers confused about whether it was a marketing stunt or a genuine breach. By mid-afternoon, the company confirmed it was an unauthorised notification sent by hackers and apologised to customers, urging them not to click the link.

What data was exposed

ASOS said basic personal information may have been accessed, including customer names and contact details. However, the company stated it did not believe payment card records or passwords were compromised. The ASOS app has been downloaded more than 10 million times on Android devices alone, and the retailer serves around 17 million customers annually across more than 150 markets. Some users in Australia, France, Sweden and the Republic of Ireland also received the notification.

Why this attack was unusual

Cyber security experts described the attack as “brazen” and “deeply serious” because hackers publicly announced the breach to customers rather than conducting the extortion in private. Charlotte Wilson, head of enterprise at cyber-security firm Check Point, noted this public approach is rare in extortion attempts. The National Cyber Security Centre confirmed ASOS customers received the unauthorised notification and advised users not to click suspicious links. The Metropolitan Police are aware of the incident and engaging with the company as enquiries continue.

Stock impact and next steps

Shares initially fell 14% intraday but closed down 9.56% after ASOS announced it held cybersecurity insurance with a large global provider, including business continuity coverage. The company said it is too early to quantify any potential financial impact on trading. ASOS has not yet informed the UK Information Commissioner’s Office (ICO) about the breach. The retailer’s website and app continued operating normally during the investigation.

Final Thoughts

ASOS faces reputational and financial damage from the brazen public extortion attempt, though the confirmed data loss appears limited to names and contact details. Investors should monitor quarterly trading updates and any ICO investigation findings for the full impact.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.