TPG Telecom hit to the tune of -2% as iiNet cyberattack punished by holders
TPG Telecom (ASX:TPG) has clocked red intraday on Tuesday after a cyberattack on its flagship iiNet product has caused some investors to dip out of the company.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Referred to as a ‘cyber incident,’ TPG on Tuesday wrote that it appears somebody has stolen high-level credentials to access the iiNet ‘backend,’ from there able to access some customers’ information.
TPG reported only names, emails, numbers, and residential addresses were likely exposed, as opposed to hard financial data like credit card and bank details.
Still, that opens up a potentially very large pool of targets to hit with further scam attempts moving forward; some 280,000 customers are thought to have been affected.
The case – or market reaction – echoes that of Medibank (ASX:MPL) a few years ago when a fairly wide-spreading cyber attack hurt that company’s share price hard. In fact, APRA ended up stinging MPL for that one.
And the same thing happened just two months ago, too, when Qantas was hit.
As cybersecurity experts have long been saying, the market should probably prepare to see more, and not less, of this kind of breach.
TPG last traded at $5.21/sh.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please clickhere.
TPG Telecom hit to the tune of -2% as iiNet cyberattack punished by holders
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$4.91 |
Change
0.010(0.20%) |
Mkt cap ! $9.129B | |||
| Open | High | Low | Value | Volume |
| $4.91 | $4.95 | $4.87 | $17.84M | 3.642M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 612 | $4.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.92 | 1000 | 1 |
View Market Depth
| Last trade - 16.10pm 05/09/2025 (20 minute delay) ? |
| TPG (ASX) Chart |