Great hacker attack on Pepco. The company lost over EUR 15.5 million

Great hacker attack on Pepco.  The company lost over EUR 15.5 million

The police are already investigating the phishing attack on Pepco Group, but the chances of recovering the stolen EUR 15.5 million are very small.

A large-scale phishing attack targeting Pepco Group bank accounts occurred in Hungary. The company's structures there were attacked by an as yet unknown group of hackers who managed to steal over EUR 15.5 million. The worst thing about all this now seems to be that there is very little chance that the company will recover at least part of the stolen amount.

Hacker attack on Pepco

In a quick stock exchange announcement, Pepco Group representatives informed investors that they had taken immediate steps to explain the cause of the successful phishing attack and ensure the security of their IT systems, and therefore also secure the company's internal financial sectors.

“Funds amounting to EUR 15.5 million were lost as a result of the attack. At this point, it is not yet clear whether the Group will be able to recover all or part of this amount, but Pepco is already working on it together with the banks and the police. – we read in the official announcement sent by the company to its investors.

At this moment, there is no information that the attack could also affect customers, employees or any companies cooperating with Pepco.

Pepco's financial results are stable

Pepco assures in a statement that, despite the attack, its financial condition is currently stable. “We maintain a healthy balance sheet, with liquidity of over EUR 400 million, and cash generation from operations is strong.” – we read.

In the fourth quarter of 2023, Pepco Group recorded EUR 1.9 billion in revenues – 11%. more than in the same period of the previous year. This result was achieved despite a decline in sales – by 2.3%. Every year.

According to data from September last year, Pepco Group has 246 stores in Hungary operating under the concern's own brand.

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