Flutter’s Paddy Power and Betfair Report Cybersecurity Incident

International gambling giant Flutter Entertainment has reported a data breach affecting its Paddy Power and Betfair brands. The operator reported that many customers were affected and advised them to be vigilant, as bad actors may use this data to impersonate them.

Consumer Data Was Compromised

The breach was reported on July 8 with Flutter saying that customer data, including usernames, addresses and emails, had been compromised. While not all Betfair and Paddy Power customers were affected, Flutter noted that a significant number of players have been.

In addition to personal data, the two brands have reportedly leaked technical data concerning customers’ online activity, IP addresses and device IDs.

However, Flutter emphasized that no player passwords, identification documents or usable cards or payment details have been leaked.

Despite the fact that players’ passwords and IDs were not compromised, Flutter advised players to be vigilant since their information could be potentially misused.

We are not aware that any of your personal information involved in this incident has been misused. However, if certain types of personal information were accessed, then there is a risk that criminals may use this information to conduct phishing against you or attempt to impersonate you.

Flutter statement

The Issue Was Addressed Immediately

Flutter reached out to fans and news outlets to confirm that the incident has been quickly addressed. The company said that it immediately contacted relevant regulators and authorities to inform them of the matter. At the same time, it initiated an investigation and onboarded IT experts to better understand its failing and how it can prevent such breaches in the future.

Flutter emphasized that the unauthorized access to customer data has since been removed and that the incident has been contained.

The gaming giant added that it remains committed to safeguarding and securing its customers’ private data.

Jefferies Bullish on Flutter

In other news, Jefferies just shared a positive outlook on Flutter Entertainment, issuing a Buy rating and encouraging investors to invest in the company.

In addition to that, Jefferies set a target price of $380 per share, which suggests the stock could increase by some 35%. This is notably one of the most optimistic targets on Wall Street.

Jefferies justified its optimism about Flutter to the company’s rapid growth in multiple markets, especially the US, where its FanDuel brand has cemented itself as a sports betting leader.