Wynn Resorts Shares Fall 6% Following Lawsuit Over 800,000-Record Data Breach

  • The complaint filed on Saturday says that customer info was compromised
  • It claims that Wynn Resorts didn’t properly encrypt the sensitive data
  • Wynn Resorts’ share price fell 6% on Monday as markets reacted to the news
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Wynn Resorts is the defendant in a lawsuit alleging it failed to properly protect customer data, resulting in a major data breach. [Image: Shutterstock.com]

Just one day after reports emerged that Wynn Resorts had been the victim of a data breach affecting 800,000 records, some of those affected filed a lawsuit. The complaint, filed on Saturday in the US District Court for the District of Nevada, explains that sensitive customer information was exposed.

The plaintiffs contend that there is a risk of identity theft going forward, as hackers accessed information like Social Security Numbers.

lawsuit alleges that Wynn Resorts didn’t properly encrypt the sensitive customer information

The lawsuit alleges that Wynn Resorts didn’t properly encrypt the sensitive customer information, failing in its safeguarding responsibility. It goes on to say that Wynn hasn’t given a full account of how the attack occurred and hasn’t outlined its approach to preventing a similar breach in the future.

The Las Vegas-based casino company reportedly offered impacted people identity monitoring services for two years. However, the complaint says that this doesn’t go far enough, as compromised Social Security numbers can be exploitable for many years after a breach. The lawsuit seeks injunctive relief, damages, and for Wynn to overhaul its data security approach.

Wynn Resorts hasn’t publicly commented on the data breach. Hacker group ShinyHunters said in a post on Friday that the company had until Monday to respond to this demand, which included a 22.34 Bitcoin ($1.5m) ransom. The Wynn Resorts share price dropped 6% shortly after markets reopened on Monday and reacted to the news of the hack.

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