South Korea has slapped e-commerce giant Coupang with a record $400 million fine after a data breach exposed personal information belonging to roughly 37.5 million users — more than half the country's population. Seoul's Personal Information Protection Commission found the company failed to properly manage authentication keys and access controls. Regulators added a separate penalty for collecting data without user consent.
Coupang says the breach likely started as early as June through a foreign server and initially affected 4,500 accounts before ballooning to nearly 34 million. The company's CEO resigned following the incident. Coupang plans to fight the ruling in court.
Source: BBC News