The Singapore Telecommunications Limited (SGX: Z74), or Singtel, share price is feeling some shockwaves in the wake of Optus announcing it had been hacked.
Singtel shares dipped 1.12% the day after its subsidiary Optus made the announcement on Thursday last week.
In total, the Singtel share price has dropped 2.24% since then, currently fetching SGD$2.62 at the time of writing.
Let's cover how Singtel's share price reacted to developments in the Optus breach story and the key highlights.
Image source: Getty Images
The attack
My Fool colleague Bernd notes that hackers stole personal information from 9.8 million Optus customers in the attack. The information divulged included dates of birth, names, and potentially details from identification documents such as passports and driver's licences.
Some sensitive information was said to be spared in the breach, including payment details and user account passwords.
Since the attack, the hacking group has demanded a $1 million ransom not to publish all of the stolen data. To get Singtel to comply with its demands, it released 10,000 customer records, and the group said it would publish a total of 40,000 more records on Tuesday if the ransom went unpaid.
Amid The Guardian reporting news of the demand yesterday, Singtel shares have dipped 0.76% today.
And a regrettable ransom?
However, my colleague Brooke notes that the group may be regretting its act of blackmail. It's reported an alleged spokesperson from the group said "[they] don't care anymore" and that it was a "mistake" to publish the stolen records.
If there's no more release of Optus stolen data, it may relieve Singtel investors' fears that the worst of the attack is over.
Singtel acquired Optus in August 2001 and traded on the ASX until 2005. Optus brought in $776 million of cash flow to Singtel over the 12 months ended 31 March 2022.
