China officials haul in Alibaba execs over massive data heist: report
Alibaba's shares slumped 5.7 percent at the open in Hong Kong on Friday, hours after The Wall Street Journal reported that Shanghai authorities had called in its executives for talks in connection with the heist
The company's shares slumped 5.7 percent at the open in Hong Kong on Friday, hours after The Wall Street Journal reported that Shanghai authorities had called in its executives for talks in connection with the heist
Image: Greg Baker / AFP
Alibaba shares sank on Friday after a report said the tech giant's executives had been called in for meetings with Chinese officials over the theft of a vast police database.
A hacker last month put on sale what they claimed was the personal information of hundreds of millions of Chinese citizens—which, if true, would make it one of the biggest data heists in history.
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Cybersecurity analysts subsequently confirmed that the data—partly verified by AFP—was stored on Alibaba's cloud servers, apparently by the Shanghai police.
The company's shares slumped 5.7 percent at the open in Hong Kong on Friday, hours after The Wall Street Journal reported that Shanghai authorities had called in its executives for talks in connection with the heist.
The Journal cited unnamed people familiar with the matter as saying the executives included Alibaba Cloud vice president Chen Xuesong, who heads the unit's digital public security work.
