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Microsoft (NASDAQ:MSFT) customers compromised in a cyberattack

The second-biggest company in the world is still susceptible to hacks…
The post Microsoft (NASDAQ:MSFT) customers compromised in a cyberattack appeared first on The Motley Fool Australia. –

Microsoft Corporation (NASDAQ: MSFT) has been the target of a cyberattack less than a week after eclipsing a $2 trillion market capitalisation.

On Friday, the US-based tech giant disclosed it had suffered a breach at the hand of hackers. Let’s take a look at the details.

Microsoft breach links with SolarWinds cyberattack

In a post to its security response center, Microsoft divulged that it was tracking new cyberattacks conducted by Russian hacking group Nobelium.

The group were successful in installing malicious software on a computer used by a Microsoft customer support employee. Nobelium proceeded to steal sensitive information which would be used to target Microsoft customers.

Accordingly, Microsoft responded by securing and removing access to the compromised device. Afterwards, the company noted its customer service agents have access to minimal personal information as part of its ‘Zero Trust’ approach to customer information.

Reportedly three customers were affected by the compromised data. All customers that were compromised or targeted were being contracted by the company.

Furthermore, the cyberattack on Microsoft was part of a larger attack targeting 36 countries. This activity predominately targeted IT companies and government organisations.

Cyberattack déjà vu

The hacking group involved in this breach was also responsible for the SolarWinds Corp (NYSE: SWI) attack in December 2020.

That breach was one of the largest in recent history, impacting 18,000 users including the U.S. Treasury, Department of Commerce, and Homeland Security.

“These attacks appear to be a continuation of a multiple efforts by Nobelium to target government agencies involved in foreign policy as part of intelligence gathering efforts,” said Microsoft.

Investing in combatting cyberattacks

Companies and governments are investing billions to fend off the rapidly growing occurrence of cyberattacks. With it becoming an increasing problem, the amount of funding funnelling into the sector is unprecedented.

So, if you are looking for ways to try and capitalise, there are options out there. One ASX-listed example is the Betashares Global Cybersecurity ETF (ASX: HACK). The exchange-traded fund (ETF) is invested in 40 of the world’s biggest and most innovative companies in the space.

Moreover, the top 5 holdings in the ETF currently consist of Crowdstrike Holdings Inc (NASDAQ: CRWD), Zscaler Inc (NASDAQ: ZS), Okta Inc (NASDAQ: OKTA), Accenture PLC (NYSE: ACN), and Cisco Systems Inc (NASDAQ: CSCO).

The HACK ETF climbed 0.42% higher to $9.52 per share in today’s session. Meanwhile, over the past 12 months, the fund has delivered a 17.8% return.

The post Microsoft (NASDAQ:MSFT) customers compromised in a cyberattack appeared first on The Motley Fool Australia.

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