Asos shares drop over 11 percent after reported cyberattack

Asos shares, traded under ticker ASC on the London Stock Exchange, have dipped more than 11 percent as of Tuesday at 12h20 GMT, following reports of a cyberattack.

Thousands of Asos app users received a push notification titled “Asos Hacked” on Tuesday, accompanied by a message seemingly directed to the company’s management.

“Dear Asos DPO and IT, we have fully compromised the Snowflake instance. Engage with us, or we will leak it," the message reads.

Snowflake is a cloud-based platform that works with multiple companies to provide data storage and management services. The company shares, traded under ticker NYSE:SNOW, have also tumbled on Tuesday by two percent.

In 2024, Snowflake was in the news after another cyberattack managed to break into multiple of its accounts, exposing customer records of Ticketmaster, AT&T and many others.

Asos has yet to share a public statement about the case. According to UK data protection law, the company has up to three days to notify regulators of a confirmed breach.

Downdetector, a real-time online platform that tracks and reports service outages for websites, apps, and internet providers, recorded a spike of nearly 500 user reports of app/site issues around 10 a.m. The website and app appeared to have not been affected by the cyberattack.

Asos is a London-based online fashion and beauty retailer that generated more than three billion dollars in revenue last year. The company stocks hundreds of brands, ships to most countries worldwide and employs close to 3,000 people.

Asos is not alone. In September, Catalyst Brands, owner of JCPenney and Brooks Brothers, disclosed a breach exposing employee data. Earlier this year, Under Armour, Nike and Adidas investigated leak claims, and ransomware group 0apt claimed an attack on Urban Outfitters.