UK online fashion giant Asos saw its share price slump almost 15 percent in London trading on Tuesday, October 6, after customers reportedly received a mobile notification claiming its systems had been hacked. The notification, which urged the company to make contact via a Telegram link, read: "ASOS HACKED. Dear Asos DPO and IT, we have fully compromised your Snowflake instance. Engage with us, or we will leak it." Asos, whose website remains accessible, has yet to respond to a request for comment.
The notification is an example of "psychological warfare" and is designed to whip up panic, according to Marie Wilcox, market strategy analyst at cybersecurity firm Binalyze. The attackers reasoned that "any panic piles on the pressure on Asos to think about paying up rather than taking time to develop a rational response", she said. Snowflake, a US company that provides its clients with a cloud-based platform for data storage, management and analysis, also had not responded to a request for comment.
Asos has 17 million active customers worldwide, according to its own figures. The company generated £2.48 billion ($3.29 billion) in revenue while posting net losses of £298 million in the 12 months to the end of August 2025. Its own brands account for 40 percent of the value of goods sold on the platform, compared to 60 percent for partner brands.
The UK has been hit by a wave of cyberattacks in recent times, targeting several major companies. Last year, Jaguar Land Rover, Marks & Spencer, the department store Harrods and the Co-op food chain were among those affected. Additionally, three British airports belonging to the Manchester Airports Group were targeted by an attack in August that resulted in the theft of personal data belonging to 8.7 million customers.
Asos's share price slump on Tuesday reflects the potential financial impact of the reported cyberattack. The company's market value has been affected by the news, with investors likely to be concerned about the potential consequences of a successful hack. Asos's response to the situation will be closely watched, as will the actions of regulators and law enforcement agencies.
Cybersecurity experts have warned that companies must be prepared for the increasing threat of cyberattacks. The Asos incident highlights the importance of having robust security measures in place to prevent and respond to such incidents. The incident also raises questions about the safety of online shopping and the need for companies to prioritize data protection.
The incident is still unfolding, and Asos has yet to provide an official statement on the situation. The company's customers will be watching closely for updates on the potential impact on their personal data. Asos's reputation and customer trust will be at stake as it navigates this challenging situation.
Key points
- Asos shares slumped almost 15 percent in London trading on Tuesday after customers received a mobile notification claiming its systems had been hacked.
- The notification is an example of "psychological warfare" and is designed to whip up panic, according to a cybersecurity expert.
- The UK has been hit by a wave of cyberattacks in recent times, targeting several major companies, including Asos.
