Snowflake stock falls after Asos hack notification

Investing.com -- Snowflake (NYSE: SNOW) shares fell 2% Tuesday morning after alleged hackers sent a threatening push notification through Asos’s mobile app, claiming they had "fully compromised the Snowflake instance" used by the UK retailer.

The message, addressed to Asos’s data protection officer and IT staff, stated that attackers had breached the cloud data platform and would leak customer information unless the company responded. The notification directed recipients to a Telegram channel.

Snowflake provides cloud-based data storage and management services to corporate clients. The platform has previously been linked to high-profile data breaches affecting dozens of major companies, which added weight to the attackers’ claims.

Asos had not confirmed or denied the extent of any compromise as of mid-morning Tuesday. The UK retailer uses Snowflake to store and manage large volumes of customer information.

The incident raised concerns about the security of Snowflake-hosted environments. Under UK data protection law, a confirmed breach would require Asos to notify regulators within three days.

Asos shares fell 10.2% to trade at 450.9p during Tuesday’s session, hitting a session low of 435.5p after opening at 485p. The stock stood in contrast to the broader FTSE 250 index, which traded higher on the day.

Original Article

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