How Proactive Cybersecurity Could Have Prevented a Data Breach
What one company's breach teaches us about the high cost of reactive cybersecurity—and how to avoid it.
Introduction
In September 2023, a mid-sized pharmaceutical company became the victim of a sophisticated and coordinated cybersecurity attack. The organization was in the spotlight due to its upcoming FDA approval and IPO announcements for a groundbreaking new product, inadvertently drawing the attention of cybercriminals.
This heightened visibility, coupled with insufficient cybersecurity measures, made the company an ideal target.
The Attack
The attack began with reconnaissance in late August 2023. Threat actors conducted detailed profiling of high-value employees using publicly available information from social media, company press releases, and professional networking sites like LinkedIn.
Their primary focus became a key executive, whose credentials they compromised through a SIM swap attack. By falsifying a government ID, the attackers persuaded the executive’s mobile carrier to transfer their phone number, intercepting SMS-based multifactor authentication (MFA) codes.
Armed with these credentials, the attackers bypassed the company’s limited security controls and accessed critical systems. Over the next 12 hours, they exfiltrated more than 10,000 sensitive files, including proprietary research and intellectual property, using automated tools that leveraged cloud storage platforms like OneDrive and SharePoint. Due to the absence of real-time monitoring, the breach went undetected until after the attackers issued an extortion demand nearly three weeks later.
Factors That Enabled the Attack
1. Insufficient Security Infrastructure
Lack of SOC: The absence of a 24/7 Security Operations Center (SOC) meant no one was monitoring for suspicious login behavior or unusual data transfer patterns.
Overreliance on Basic MFA: Although MFA was used, it relied on SMS-based authentication, which is vulnerable to SIM swap attacks and man-in-the-middle tactics.
2. Exploitable Social Engineering Gaps
Attackers exploited publicly available personal data to impersonate the executive convincingly, bypassing phone carrier security protocols.
Employees lacked training in recognizing the risks of oversharing sensitive information online.
3. Misconfigured Cloud Settings
Default configurations in OneDrive and SharePoint permitted unrestricted file synchronization.
No conditional access policies were in place to limit access to trusted, compliant devices or to detect anomalous behavior.
Broader Implications
Investigations revealed that the same threat actors had targeted multiple companies in the pharmaceutical sector, indicating a pattern of industry-specific attacks. These groups operated using a Phishing-as-a-Service model and employed distributed “operators” to conduct localized attacks.
This trend underscores the need for organizations to adopt a proactive security stance to protect their intellectual property and maintain trust.
Cybersecurity is not a luxury reserved for large corporations but a fundamental necessity for businesses of all sizes. Investing in proactive cybersecurity measures is critical to protect against evolving cyber threats.
Mitigation Steps Taken
1. Strengthened Identity Protection
- Replaced SMS-based MFA with phishing-resistant methods such as hardware tokens and app-based authentication.
- Implemented conditional access policies requiring device compliance and geographic restrictions.
2. Enhanced Monitoring and Incident Response
- Established a 24/7 SOC to detect and respond to threats in real time.
- Introduced advanced threat intelligence tools to identify potential attackers before they could strike.
3. Cloud Security Overhaul
- Reviewed and customized OneDrive and SharePoint settings to restrict excessive permissions and limit synchronization to authorized endpoints.
- Deployed data loss prevention (DLP) tools to monitor and block unauthorized data transfers.
4. Employee Training
- Launched a targeted security awareness program emphasizing the risks of social engineering and online privacy management.
- Conducted regular phishing simulations to bolster employees’ ability to identify and report suspicious activities.
Key Takeaways
This case starkly illustrates the consequences of reactive security measures in an era of evolving threats. For companies in high-stakes industries like pharmaceuticals, adopting a layered, proactive cybersecurity approach is not optional—it’s a necessity.
Enhanced identity protection, continuous monitoring, and ongoing employee training can significantly mitigate the risk of breaches and ensure operational continuity in the face of relentless cyber threats.
MFA Is a Starting Point, Not a Silver Bullet
Modern attackers employ sophisticated methods like session hijacking and MFA bypass. Businesses must pair MFA with conditional access policies, SOC oversight, and phishing-resistant methods to effectively counter these threats.
Visibility and Monitoring Are Non-Negotiable
The lack of a dedicated SOC allowed attackers to operate undetected for hours, causing irreparable damage. Proactive monitoring and advanced detection tools are essential.
Social Engineering Remains a Critical Risk
Even robust technical measures can be undermined by human vulnerabilities. Comprehensive employee training is a vital layer of defense.
Cloud Configurations Require Audits
Default settings often expose organizations to risk. Regular audits and tailored security configurations are crucial to closing these gaps.