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Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images
Shares of F5, a U.S. cybersecurity firm, plummeted 10% on Thursday after the company disclosed a significant security breach. A “highly sophisticated nation-state threat actor” had gained prolonged access to some of its internal systems, raising concerns about the potential compromise of sensitive data and future vulnerabilities.
The steep decline marked F5’s worst trading day since April 27, 2022, when the stock experienced a 12.8% drop, underscoring the market’s sensitivity to cybersecurity risks within the technology sector.
According to a filing with the Securities and Exchange Commission (SEC) made public on Wednesday, the breach impacted F5’s BIG-IP product development environment. The attacker successfully infiltrated and accessed files containing proprietary source code and critical information pertaining to “undisclosed vulnerabilities” existing within BIG-IP. This revelation is particularly concerning given the central role F5 plays in securing networks for corporations and government entities worldwide.
While F5 became aware of the intrusion in August, subsequent reports, citing individuals familiar with the investigation, have pointed towards state-sponsored hackers originating from China as the likely perpetrators, according to Bloomberg.
Despite the confirmed compromise, F5 maintains that it has not detected any new unauthorized activity since the mitigation efforts were implemented.
“We have no knowledge of undisclosed critical or remote code vulnerabilities, and we are not aware of active exploitation of any undisclosed F5 vulnerabilities,” the company stated in a public statement. However, the duration of the attacker’s presence within the network – reportedly spanning at least 12 months – raises questions about the efficacy of F5’s detection and response capabilities and the potential scope of the data exfiltration.
Reports indicate that the threat actor deployed a malware strain named Brickstorm during their malicious activity, with Bloomberg highlighting the specifics of the prolonged network intrusion. The company has declined to either confirm or deny these reports.
Security researchers at Google’s Threat Intelligence group linked Brickstorm to UNC5221, a suspected China-nexus threat actor. Further analysis by Mandiant suggests that Brickstorm is designed for maintaining “long-term stealthy access” and can remain undetected on compromised systems for an extended period, averaging around 393 days. This prolonged access would provide ample opportunity for extensive data exfiltration and potential manipulation of F5’s systems.
In response to the breach, the Cybersecurity and Infrastructure Security Agency (CISA) issued an emergency directive, mandating that all federal agencies utilizing F5 software and products immediately apply the latest security updates. This decisive move underscores the severity of the situation and the potential for widespread disruption across critical infrastructure.
“The alarming ease with which these vulnerabilities can be exploited by malicious actors demands immediate and decisive action from all federal agencies,” emphasized CISA Acting Director Madhu Gottumukkala. “These same risks extend to any organization using this technology, potentially leading to a catastrophic compromise of critical information systems.”
The UK’s National Cyber Security Centre has also published guidance pertaining to the F5 attack, urging customers to promptly install security updates and maintain heightened vigilance for any suspicious activity. The coordinated response from multiple national cybersecurity agencies highlights the global implications of the breach and the urgent need for robust security measures.
