Another ASX 200 company has been hit with a cyber incident. Here's what we know

Hackers have breached the systems of this ASX 200 company.

| More on:
a man in a hoodie grins slyly as he sits with his hands poised on a keyboard. He is superimposed with a graphic image of a computer screen asking for a password, suggesting he is a hacker.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Another ASX 200 share has been hit with a cyber-attack
  • Its shares have been placed in a trading halt while it prepares an announcement
  • The company's shares are expected to return to trade tomorrow

The IPH Ltd (ASX: IPH) share price is missing out on the market selloff today.

That's because the ASX 200 intellectual property (IP) services company's shares were slammed into a trading halt this morning.

However, judging by its trading halt request, its shares may well take a tumble when they return to trading on the ASX boards on Wednesday.

Why is this ASX 200 share in a trading halt?

IPH requested a trading halt on Tuesday after it became the latest victim of a cybersecurity incident.

This follows incidents in recent months impacting Costa Group Holdings Ltd (ASX: CGC), Medibank Private Ltd (ASX: MPL), Optus, and TPG Telecom Ltd (ASX: TPG).

Not much is known about the cyber-attack at present, with IPH holding its cards close to its chest. Its request only states:

IPH requests the trading halt to enable it to manage its continuous disclosure obligations in relation to a cyber incident that IPH has recently become aware of; (b) IPH requests that the trading halt continue until the earlier of a release of an announcement by IPH and the commencement of normal trading on Wednesday, 15 March 2023.

Investors will have to be patient and wait for that announcement tomorrow to see what damage has been done from the attack.

In light of the above, it is no wonder that the Betashares Global Cybersecurity ETF (ASX: HACK) share price is up over 6% this year. This compares favourably to the performance of the ASX 200 index, which is down almost 1% in 2023.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended BetaShares Global Cybersecurity ETF. The Motley Fool Australia has positions in and has recommended BetaShares Global Cybersecurity ETF. The Motley Fool Australia has recommended Costa Group, IPH, and Tpg Telecom. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

asx share price boosted by us investment represented by hand waving US flag across winning athlete
Best Shares

Here are the best-performing ASX 200 shares since the US election result

We reveal the 10 ASX stocks that have had the highest share price gains since the US Presidential election.

Read more »

A young man sits at his desk working on his laptop with a big smile on his face due to his ASX shares going up and in particular the Computershare share price
Share Market News

5 things to watch on the ASX 200 on Friday

A decent finish to the week is expected for Aussie investors.

Read more »

A smiling man at a shop counter takes payment from a female customer, with racks of plants in the background.
Best Shares

Here's why I think Wesfarmers shares are a great buy for any ASX investor

I argue that Wesfarmers offers investors both growth and income potential.

Read more »

A golfer celebrates a good shot at the tee, indicating success.
Share Market News

Here are the top 10 ASX 200 shares today

ASX investors finally enjoyed a win this Thursday...

Read more »

a man sits back from his laptop computer with both hands behind his head feeling happy to see the Brambles share price moving significantly higher today
Industrials Shares

Up 39% in a year, is there more growth to come for this ASX 200 share?

IML Equity Analyst Josh Freiman shares his views on a major ASX 200 industrial stock.

Read more »

Man looking at his grocery receipt, symbolising inflation.
Share Market News

What the latest US inflation print means for ASX 200 investors

The ASX 200 is likely to benefit if the US Fed cuts interest rates again in December. But will it?

Read more »

guy helping girl invest in shares and dividends
Opinions

5 ways for investors buying ASX shares to stay focused during economic uncertainty

AMP Chief Economist, Dr Shane Oliver, offers advice on how to handle the Trump factor.

Read more »

A worried man holds his head and look at his computer.
Share Fallers

Why Graincorp, Light & Wonder, Orica, and Wildcat shares are falling today

These shares are having a tough time on Thursday. But why?

Read more »