TPG Telecom falls as email hack targets business users’ crypto, financial info

(Reuters) – Australia’s second-largest internet service provider TPG Telecom Ltd (TPG.AX) said Wednesday of unauthorized access to its hosted exchange service, which hosts email accounts for up to 15,000 business customers. announced that it had withdrawn its shares. Five%.

The case follows a string of high-profile cases in Australia, including Singapore Telecommunications (STEL.SI)-owned Optus, the country’s second largest telecommunications company, and Australia’s largest health insurer Medibank Private Limited (MPL.AX). is the latest in hacks. Together, approximately 14 million customer accounts were compromised.

Inadequate software updates were responsible for the spike in attacks in the majority of incidents, according to a November Australian Cyber ​​Security Center report.

TPG said Wednesday that the attackers’ “main objective” is to retrieve customers’ cryptocurrency and financial information. His Mandiant, the company’s cyber security advisor, discovered the breach during a historical forensic review.

“This shows the world and Australia that it is still very easy for hackers to access customer records. There is.” CMC Markets.

TPG said it is taking steps to stop unauthorized access and is contacting all customers of its exchange services affected by the incident.

In early October, the country’s top telecommunications company, Telstra (TLS.AX), reported a data breach involving a third-party provider that disclosed details of past employees.

TPG shares fell 4.7% against a 0.3% gain for the broader market.

Reported by Navya Mittal and Savyata Mishra of Bengaluru. Edited by Shounak Dasgupta and his Uttaresh.V

Our standards: Thomson Reuters Trust Principles.

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