Hackers test TPG (ASX:TPG)'s cyber security integrity

Company News

by Michael Luu

Trust in telecommunications powerhouse TPG (ASX:TPG)’s cloud-hosting platform TrustedCloud appears to have been compromised, after a recent cyber attack tested the company’s cyber security integrity.

TPG has detected that hackers infiltrated TrustedCloud’s network to access data belonging to two customers. The telco reiterated that the incident was only limited to these individuals, as no other data had been breached.

TPG’s IT-as-a-service platform, previously known as Wavenet, was already scheduled for discontinuation in August and is undergoing decommissioning procedures. The legacy cloud hosting service produced by IntraPower fell under TPG’s management following the takeover of the IT service provider in 2011.

TPG has reassured investors and customers that the cyber criminals did not reach beyond the bounds of TrustedCloud, as the soon-to-be-terminated network operates separately from TPG’s other digital infrastructure.

TPG reaffirmed with investors, “The incident has not impacted customers from any of our other brands, products or services”.

The cyber security breach has prompted TPG to ramp up data protection measures and cooperate with cyber safety authorities for assistance in investigating the incident.

Shares in TPG (ASX:TPG) are trading almost 3 per cent lower to a post-merger low of $4.89 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.