MGM Resorts Settles Class Action Lawsuits for $45 Million After Two Major Cyberattacks
In a recent turn of events, the hotel and casino giant, MGM Resorts International, has agreed to pay a hefty sum of $45 million to settle more than a dozen class action lawsuits. The lawsuits were filed following two separate cyberattacks that resulted in the theft of personal data on millions of customers.
The Cyberattacks
The first cyberattack occurred in 2019, where hackers infiltrated MGM’s systems and stole the personal data of around 10.6 million people. This data included names, addresses, and email addresses. The second attack took place in 2020, resulting in the theft of data on an additional 1.3 million people, including their phone numbers.
The Settlement
The settlement will provide compensation to those affected by the data breaches. The exact amount each person will receive is yet to be determined and will depend on the extent of the damage caused to the individual. The funds will also cover the cost of identity theft protection services for the affected parties.
Impact on Customers
For those who have had their personal information stolen, this settlement may provide some relief. However, it is important to note that the settlement does not erase the potential risks associated with having one’s data exposed. Identity theft can lead to financial loss, emotional distress, and damage to one’s reputation. It is crucial that individuals remain vigilant and take steps to protect their identity, such as monitoring their credit reports and using strong, unique passwords.
Impact on the World
The MGM Resorts data breaches serve as a reminder of the increasing threat of cybercrime in our digital age. With the rise of remote work and online transactions, the number of potential targets for hackers continues to grow. This settlement is a significant financial loss for MGM Resorts, but the long-term consequences for the company and its reputation remain to be seen. It also underscores the importance of robust cybersecurity measures for businesses of all sizes.
Conclusion
The MGM Resorts data breaches are a sobering reminder of the potential consequences of a cyberattack. While the settlement may offer some relief to those affected, it is essential that individuals remain vigilant and take steps to protect their personal information. For businesses, investing in robust cybersecurity measures is not just a best practice, but a necessity in today’s digital landscape.
- MGM Resorts agreed to pay $45 million to settle class action lawsuits following two cyberattacks.
- The first attack occurred in 2019, affecting 10.6 million people.
- The second attack took place in 2020, affecting an additional 1.3 million people.
- Compensation will be provided to those affected, with the exact amount to be determined.
- Identity theft protection services will also be covered by the settlement.
- The settlement is a reminder of the importance of personal data protection and robust cybersecurity measures.
