TPG Telecom Ltd Email Breach Targets Customers’ Cryptocurrency and Financial information
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TPG Telecom Ltd, Australia’s No.2 internet service provider was the victim of an email breach, where the bad actors targeted customers’ cryptocurrency and financial information. 

The bad actors managed to gain unauthorized access to a hosted exchange service that hosts email accounts of up to 15,000 business customers, dragging its shares over 5%.

This latest incident is the most recent in an unfortunate series of such hacks including the country’s second-largest telecoms provider, Optus—owned by Singapore Telecommunications Ltd—and their biggest health insurer Medibank Private Ltd, which altogether compromised some 14 million customer accounts.

A new report from the Australian Cyber Security Centre blames almost half of the cyber-attacks on dodgy software updates.

TPG, a global IT consultancy firm, said the primary aim of the threat actor was to find customers’ information. This conclusion was reached by Mandiant, TPG’s cyber security adviser, after reviewing a historical review of cyber-attacks.

Azeem Sherrif, a market analyst at CMC Markets, said “It does show to the world and to Australia that it is still quite easy for hackers to access customer records, which is obviously a huge negative and a lot of the other companies should definitely be wary.”

When TPG realized they’d made a mistake, they immediately took steps to stop it from happening again and notified all the customers who had been affected.

Earlier this month, the country’s top telecom firm Telstra Corp Ltd reported a data breach related to a third-party provider that exposed some historical employee information.

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