April 14, 2024
  • On Friday, the International Monetary Fund (IMF) assured that all the 11 email accounts that were compromised in the February breach have been re-secured
  • The attack seems to be contained at the moment. No other account or software seems to be compromised
  • Investigations are still continuing and they are yet to nab the hackers behind this

IMF Shared An Update About The February Security Breach

The International Monetary Fund (IMF) on Friday shared an update about a cyberattack that breached 11 email accounts from the organization on February 16, 2024.

A spokesperson said that they are continuing their investigation but are sure that the email accounts of top executives are safe, including the email account of IMF Managing Director Kristalina Georgieva.

The organization also assured that all the accounts that were previously compromised have been secured again. No other email accounts or software has been affected in the breach.

They have neither identified the attacker yet nor has any group claimed responsibility for the incident.

We have no indication of further compromise beyond these email accounts at this point in time. The investigation into this incident is continuing.IMF

While the IMF has refused to divulge more information about the incident for security reasons, they did confirm that they use the Microsoft 365 cloud-based email platform.

At the same time, they also said that this attack seems to be an independent incident and not a part of Microsoft’s targeting.

This was an important clarification because Microsoft has been affected by a series of cyberattacks in recent times; the latest being a very sophisticated attack by a Russia-backed hacker group called Midnight Blizzard.

Read More: AI to affect 40% of jobs and intensify inequality, IMF warns

IMF’s Last Major Data Breach In 2011

The IMF is well-known for its high security standards and is seldom a victim of such attacks. In fact, the last time it was hacked was in 2011.

Back then, it was revealed that the attack took place over a period of several months and was deemed to be one of the most sophisticated hacks of its time.

The IMF is responsible for managing financial issues all around the world. It houses confidential information about:

  • The fiscal conditions of nations
  • Negotiations between world leaders
  • Snippets of international financial agreements

Information of this kind in the wrong hands can be devastating for all countries. But as the IMF has mentioned time and again, no major breach has been found so far.

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