Bed Bath & Beyond victimized in data breach

Bed Bath & Beyond data breach overview: 

• Who: Bed Bath & Beyond announced it was the victim of a data breach perpetrated earlier this month. 
• Why: The company claims the data breach occurred after one of its employees fell victim to a phishing scam that enabled unauthorized access to its hard drive and certain shared drives. 
• Where: Bed Bath & Beyond has locations nationwide. 

Bed Bath & Beyond revealed earlier today that it suffered a data breach earlier this month after the company says one of its employees fell victim to a phishing scam. 

The company reassured consumers that it had no reason to believe that any sensitive or personally identifiable information had been improperly accessed in the data breach, Reuters reported. 

Bed Bath & Beyond reportedly says it is reviewing the accessed data but ultimately does not expect for the breach to have a material impact on the company. 

The home goods retailer has seen the price of its shares drop recently following its decision to offer $150 million of common stock, Reuters reported. 

Average cost of recovering from data breach in U.S. is $9.5 million, says report

Earlier this year, a report released by Global digital identity company ForgeRock revealed the average total cost of recovering from a data breach in the United States was $9.5 million — the highest amount in the world. 

The dollar amount, which represented a 16% increase, was part of the company’s 2022 ForgeRock Consumer Identity Breach Report. 

A pair of Bed Bath & Beyond employees filed a class action lawsuit against the retailer last year.

The employees conducted manual labor for the company and argued it failed to pay them weekly, as allegedly required by a New York law.

The case was dismissed in June 2022.

Do you think you may be affected by the potential Bed Bath & Beyond data breach? Let us know in the comments! 

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