Telecommunications company TPG Telecom has become the latest Australian company to fall victim to a cyber attack.
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The Australian telco TPG Telecom has been hit by a cyber attack that has put data belonging to 15,000 customers’ at risk. Mandiant, the firm’s cyber security advisers, notified the company on 13 December that it had found evidence of unauthorised access to a hosted exchange service. TPG Telecom then notified customers the day after, on 14 December, sharing that the affected service hosts email accounts for 15,000 iiNet and Westnet customers, separate companies owned by the telco.
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Are network access security solutions fundamentally flawed? asks Julia O’Toole, CEO of the password protection product company MyCena Security Solutions. It is estimated that in 2022 global cybersecurity spending reached over $300 billion. This money is being poured into corporate cybersecurity programs to improve resilience, deploy technology and train staff on the latest cyberattack techniques. Yet, it doesn’t seem to counter cybercrime. Instead, cyberattack numbers continue to grow in tandem with increased security spending.
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Julia O’Toole, CEO of MyCena Security Solutions, talks about what this means for the crypto world.
She says: “In the last few days, the investment community have been left shell shocked after the sudden collapse of the FTX Cryptocurrency Exchange. The seemingly fail-safe exchange was worth billions of dollars one day and nothing the next.
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Medibank on Wednesday confirmed the leak of its data stolen in a recent ransomware attack. The insurer had refused to fork out a ransom to the unknown ransomware gang in exchange for the safe return of millions of data records and the assurance that it won’t be published.
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