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vpnMentor was established in 2014 as an independent site reviewing VPN services and covering privacy-related stories. Today, our team of hundreds of cybersecurity researchers, writers, and editors continues to help readers fight for their online freedom in partnership with Kape Technologies PLC, which also owns the following products: ExpressVPN, CyberGhost, and Private Internet Access which may be ranked and reviewed on this website. The reviews published on vpnMentor are believed to be accurate as of the date of each article, and written according to our strict reviewing standards that prioritize the independent, professional and honest examination of the reviewer, taking into account the technical capabilities and qualities of the product together with its commercial value for users. The rankings and reviews we publish may also take into consideration the common ownership mentioned above, and affiliate commissions we earn for purchases through links on our website. We do not review all VPN providers and information is believed to be accurate as of the date of each article.

TechnologyOne Trade Resumes After Data Breach

TechnologyOne Trade Resumes After Data Breach
Husain Parvez Published on 16th May 2023 Cybersecurity Researcher

TechnologyOne, an Australian enterprise software company, disclosed in a stock exchange filing on Wednesday that "an unauthorized third-party acted illegally to access its internal Microsoft 365 back-office system." The company initiated a trading halt that lasted two days in response to the incident and has since resumed trading.

TechnologyOne said the company's customer-facing platform is not connected to the affected Microsoft 365 system and "therefore has not been impacted," but when reached, the company would not say if any customer or employee data had been accessed as a result of the wider incident.

Brendan Altadonna, representing TechnologyOne through a third-party public relations agency, chose not to address additional inquiries from TechCrunch. Altadonna stated that the company would be able to share further information once the ongoing investigation has advanced.

After discovering the breach, the software maker promptly initiated a trading halt and confirmed that it had isolated the affected systems. This pause in trading allowed TechnologyOne to gather more information about the incident and provide updates to the market and investors regarding the situation. As reported by Reuters, the company further mentioned that it would reach out to any who may have been impacted once the investigation is concluded.

The trading halt has since expired since May 12th, with the company issuing a further announcement reaffirming that its customer-facing platform was not affected. They also stated that its internal back-office system is now restored and fully operational. Third-party cybersecurity experts working with TechnologyOne confirmed that its systems are secure and no further illegal activity is present. However, TechnologyOne still hasn’t completed its investigation into what data was accessed in the breach.

The cyber attack is part of a broader pattern of high-profile breaches faced by major Australian companies, including Optus, Woolworths Ltd, Telstra, and TPG Telecom. These incidents have underscored the need for strengthened cybersecurity measures and have prompted the Australian Government to establish a task force to address and reform cybersecurity laws.

About the Author

Husain Parvez is a Cybersecurity Researcher and News Writer at vpnMentor, focusing on VPN reviews, detailed how-to guides, and hands-on tutorials. Husain is also a part of the vpnMentor Cybersecurity News bulletin and loves covering the latest events in cyberspace and data privacy.