World's Largest Hardware Retail Cooperative Hit by Cyberattack

Ace Hardware, the world's largest retailer-owned hardware cooperative, has been hit by a cyberattack. The company's website is unable to process online orders, and its CEO, John Venhuizen, has confirmed that the majority of its IT systems have been impacted. This has caused interruptions to key operating systems, including their warehouse management systems and the retailer mobile assistant. Some employees have been sent home, and there are concerns about timely payment. While Ace Hardware stores remain open, online services are affected, and no deliveries or orders can be made. The company is working to restore systems with the help of digital forensic experts. The type of attack has not been specified. Ace Hardware reported a decrease in revenues for the first quarter of 2023.