Skip to main content

Market Overview

Riot Games Hit By Massive Cyber Attack, Affecting Updates For Multiple Titles

Share:
Riot Games Hit By Massive Cyber Attack, Affecting Updates For Multiple Titles

Riot Games, the video game developer, publisher and esports tournament company owned by Tencent Holdings ADR (OTC: TCEHY) disclosed it has been a victim of a cyber attack.

What Happened: The company behind huge titles such as League of Legends and Valorant announced the security breach via Twitter.

See Also: Why New 'League of Legends' Trailer Is So Bad Riot Games Had To Apologize [VIDEO]

The company assured no important data had been compromised, including player information.

“Earlier this week, systems in our development environment were compromised via a social engineering attack. We don’t have all the answers right now, but we wanted to communicate early and let you know there is no indication that player data or personal information was obtained,” Riot tweeted.

Furthermore, the company — created in 2006 by two college friends, Brandon Beck and Marc Merrill — declared the hack would delay upcoming games' upcoming updates.

“Unfortunately, this has temporarily affected our ability to release content. While our teams are working hard on a fix, we expect this to impact our upcoming patch cadence across multiple games,” wrote the company valued at $1.04 billion, as per Macrotrends.

Why It Matters: This news arrived just as Riot Games laid off 46 employees as part of a larger trend of industry-wide layoffs.

See Also: China's Video Game Market Experiences First Slump In 18 Years With 10.3% Decrease

According to IGN, the layoffs mainly affected positions in talent acquisition, recruiting and publishing departments, as well as a few roles in esports and support. The company currently employed around 4,500 people worldwide.

Photo: Max Bender on Unsplash

 

 

Related Articles (TCEHY)

View Comments and Join the Discussion!

Posted-In: League of Legends Riot Games valorant video gamesEntertainment Gaming News General Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com