Cybersecurity

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The Illusion Of Reputational Damage (informationsecuritybuzz.com)

submitted 3 months ago by kid@sh.itjust.works to c/cybersecurity@sh.itjust.works

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Interesting point of view

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[–] kid@sh.itjust.works 5 points 3 months ago

I like to use the 2013 Target breach case. They lost $1 billion due to the attack, their stocks dropped significantly after the attack, had several lawsuits, they closed a few stores, and changed the CEO and CIO. But a few months later, all was forgiven, their stocks recovered, and life went on.

Don't get me wrong, the risks of a cyber attack have to be taken seriously. But I feel that I have overestimated the impacts of reputational damage my whole life, as an infosec professional. My thinking was always like this: if you get reputational damage, you are done, no chance to recover, it is the end of it.

I'm following the Crowdstrike case, but I would bet that they will lose some market share (mostly prospects), perhaps some layoffs, but stocks will come up eventually.