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Highlights:
- TPG Telecom’s 15,000 business customers got exposed to cyberattack.
- The primary aim of attacker was to get access to customers’ cryptocurrency and financial information, estimates TPG Telecom.
The Australian telecommunication group TPG Telecom Limited (ASX:TPG) has recently become a cyberattack victim. On Wednesday (14 December 2022), the company shared that its external cyber security adviser, Mandiant, has found evidence of “unauthorised access” to the email accounts of around 15,000 Westnet and iiNet business customers.
Post the news of the cyberattack, the share price of TPG Telecom fell by 2.76% on Wednesday to end the trading session at AU$4.93 per share with a market capitalisation of AU$AU$9.42 billion.
Today (15 December 2022), TPG shares were spotted trading 0.20% lower at AU$4.92 per share at 10:34 AM AEDT. In the last one year, the share price has dropped by 18.08%, and on a year-to-date basis, it has fallen by 16.69%. In the last six months, the shares have lost 14.67%.
The benchmark index, ASX 200 Communications (INDEXASX:XTJ) was down 1.01% to 17,879.40 points, while S&P/ASX 200 was 0.41% down at 7,221.70 points.
TPG Telcom’s customer accounts hacked, details here
TPG shared that its external cyber security adviser has discovered unauthorised access to its Hosted Exchange services. Mandiant found the evidence while conducting a forensic historical review as a part of an ongoing engagement to offer cyber protection.
Based on the preliminary analysis, TPG Telecom said that it seems like the cyberattack’ s primary aim is to get customers’ financial and cryptocurrency information.
The company informed the market that this attack has no impact on personal or home Westnet or iiNet products such as mobile or broadband.
As reported, the company has implemented measures to control unauthorised access, introduced security measures and is in the process of contacting the affected customers. In addition to this, the relevant government bodies have been notified.
Recent cyberattacks in Australia
Optus, the Australian telecoms giant, faced one of the largest cyber breaches in October. Around 10 million customers were affected, which equals approximately 40% of the nation’s population. The company informed the market that the cyberattack also affected expired IDs. The data exposed were passport numbers, driver’s licences and home addresses.
In October 2022, Medibank Private Limited (ASX:MPL), an ASX-listed private health insurer, reported a cybercrime that affected a substantial amount of personal and health claims data of its customers.
Pathology services provider, Australian Clinical Labs Limited (ASX:ACL) informed the market on 27 October about the cyber incident that affected its Medlab Pathology. As reported, the incident has affected the personal information of its patients and staff. Around 223,000 individuals have been affected by the incident.
