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German Software Firm Teamviewer Suffers Cyberattack
German software company Teamviewer announced on Friday that it fell victim to a cyberattack earlier this week. According to the company, the Russian hacker group APT29, also referred to as "Cozy Bear" or Midnight Blizzard, is responsible for the breach. Western intelligence suggests that this hacking group operates on behalf of Russia's foreign spy agency.
Details of the Attack
In a statement, Teamviewer said the hackers gained access to its corporate IT environment on Wednesday. However, the company clarified that the attackers did not infiltrate its product environment or compromise any customer data.
Background on APT29
APT29, the hacker group blamed for this attack, has been implicated in various cyber espionage activities. Alphabet's Mandiant cyber unit reported in March that the group attempted to deceive "key German political figures" by sending phishing emails.
Market Reaction
The cyberattack had a significant impact on Teamviewer's stock, causing shares to drop 10% by 1152 GMT. This decline marked their worst performance since November 2023.
