Microsoft's Information Security Culture, Cloud Vulnerabilities To Blame For 2023 China-Linked Cyberattack, Says Federal Agency
Portfolio Pulse from Benzinga Neuro
The Cyber Safety Review Board found Microsoft Corporation (NASDAQ:MSFT) had security lapses leading to a 2023 cyberattack by a China-linked group, Storm-0558. The attack exploited vulnerabilities in Microsoft's cloud security and information security culture, compromising US officials' accounts and nearly 60,000 emails from the US State Department.
April 03, 2024 | 6:03 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Microsoft Corporation faced a significant security breach in 2023, attributed to lapses in cloud security and information security culture, as per the CSRB report.
The CSRB's findings directly implicate Microsoft's security practices in a significant cyberattack, likely leading to negative investor sentiment in the short term. The breach's scale and the involvement of US officials' accounts could result in reputational damage, potential legal consequences, and a loss of trust among users and investors. These factors are likely to exert downward pressure on Microsoft's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100