The European Banking Authority (EBA), the EU's main financial regulator, has revealed that it has been the victim of a cyberattack in which hackers targeted Microsoft Exchange Servers. This is a type of attack that has hit many organizations in recent times. A Chinese hacking group is believed to be behind the security incident.
Microsoft - run hacking group operating out of China is exploiting previously unknown security flaws in services to steal data from business and government users. The number of users affected so far is estimated to be in the tens of thousands.
Additionally, Microsoft said the hacking group known as “Hafnium” was “highly specialized and sophisticated.” The tech giant added that it is a group that has targeted U.S.-, including infectious disease researchers, law firms, universities, defense organizations, think tanks, and NGOs.
In a statement issued by the EBA on 8 March, it said it was currently investigating the incident, noting that it had not yet identified any evidence suggesting a data breach. Specifically, the European Banking Authority said: “The Authority quickly launched a full investigation, in close cooperation with the ICT provider, a team of forensic experts and other relevant entities.” The EBA also warned that as a result of the attack, personal data could have been accessed, noting that it would provide advice on possible mitigation measures, if necessary. The Authority decided to disconnect its email systems from the internet as a precaution .
Tom Burt, a Microsoft executive, said on March 2 that the company had provided updates to fix the security flaws and urged its customers to apply them. He added that the company knew that many nation-state actors and criminal groups would act quickly to take advantage of unpatched systems.
On the other hand, Beijing usually rejects American accusations of hacking and last year condemned Washington after allegations that Chinese hackers attempted to steal data from research being conducted on COVID-19.
In January, the US said Russia was likely behind the devastating SolarWinds that hit a large number of government and private organizations.
Microsoft said on March 2 that the Hafnium attacks are "not connected in any way to the separate SolarWinds attacks.".
