Coupang, Inc. (CPNG) shares took a beating Monday after the e-commerce company confirmed it suffered a data breach that exposed the personal information of 33.7 million users. That's not exactly the kind of customer engagement any company wants.

The Damage Report

According to a South Korean news outlet, the compromised data includes customer accounts, names, email addresses, delivery address books and some order information. South Korean regulators aren't taking this lightly—the country's Personal Information Protection Commission has launched an investigation that could result in fines of around $770 million. To put that in perspective, that's a pretty hefty penalty for what's now being called the largest data leak in South Korea's history.

Recent Performance Context

The timing is particularly rough for Coupang, which reported solid third-quarter earnings back in early November. The company posted net revenues of $9.3 billion, up 18% year-over-year, and diluted earnings per share of 5 cents, an increase of 1 cent over the prior year. But those gains are being overshadowed by this security fiasco.

Technical Picture Looks Grim

Monday's decline pushed Coupang stock significantly below its 50-day moving average, signaling a bearish short-term trend. The 200-day moving average isn't offering much comfort either—the stock is trading 3.4% below this longer-term indicator, suggesting ongoing weakness. With a 52-week range of $19.02 to $34.07, the current price is hovering closer to the bottom, which could provide some psychological support. However, if shares can't hold above Monday's intraday low of around $26.13, further downside could be in store.

Shares closed down 4.81% at $26.81 on Monday, according to market data.