Kyivstar Network Targeted by Widespread Cyber Attack

Rhea-AI Summary

VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON) announces that its Ukrainian subsidiary Kyivstar experienced a widespread hacker attack causing a technical failure, resulting in temporary unavailability of communication and Internet access services. Personal data of subscribers has not been compromised. Kyivstar is working with law enforcement to address the attack and restore services. VEON and Kyivstar are conducting an investigation to determine the full impact and implement additional security measures.

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• The widespread hacker attack on Kyivstar's network has caused a technical failure, leading to temporary unavailability of communication and Internet access services, potentially impacting the financials of VEON Ltd.

Amsterdam, 12 December 2023 – VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, announces that the network of its Ukrainian subsidiary Kyivstar has been the target of a widespread hacker attack in the morning of 12 December 2023, causing a technical failure. As a result of this, communication and Internet access services are temporarily unavailable on the Kyivstar network.

Kyivstar technical teams are working on eliminating the consequences of the hacker attack and restoring communication as soon as possible. They are working in close cooperation with Ukrainian law enforcement agencies to determine the circumstances and consequences of the interference in the Kyivstar network. At the time of this release, the personal data of subscribers has not been compromised, to the best of Kyivstar’s knowledge.

Kyivstar remains committed to working relentlessly to keep Ukraine connected in cooperation with Ukrainian government authorities and to addressing the consequences of this morning’s cyber-attack. VEON and Kyivstar are also conducting a thorough investigation to determine the full extent and impact of the incident, and to implement additional security measures to prevent any recurrence.  The exact magnitude of the financial impact is not yet quantifiable as it will depend on how long services are impacted.

VEON and Kyivstar will continue to inform their stakeholders and customers about further developments.

Important Notice

Elements of this press release contain or may contain “inside information” as defined under the Market Abuse Regulation (EU) No. 596/2014.

About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers.  Operating across six countries that are home to more than 7% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth.  Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext.
For more information visit: https://www.veon.com.

Disclaimer 
This release contains “forward-looking statements,” as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, VEON’s efforts to address the consequences of a cyberattack. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events. 

Contact Information:

VEON 
Hande Asik
Group Director of Communication 
pr@veon.com

TUVA Partners
Julian Tanner
Julian.tanner@tuvapartners.com

FAQ

What is the latest news about VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON)?

VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON) announces a widespread hacker attack on its Ukrainian subsidiary Kyivstar, causing a technical failure and temporary unavailability of communication and Internet access services.

How is VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON) addressing the hacker attack on Kyivstar's network?

VEON and Kyivstar are working with law enforcement to determine the circumstances and consequences of the hacker attack and are conducting a thorough investigation to implement additional security measures.

Has the personal data of subscribers of Kyivstar been compromised due to the hacker attack?

At the time of the release, the personal data of subscribers has not been compromised, to the best of Kyivstar’s knowledge.

What is the financial impact of the hacker attack on Kyivstar's network?

The exact magnitude of the financial impact is not yet quantifiable as it will depend on how long services are impacted.

How is Kyivstar working to restore communication and Internet access services after the hacker attack?

Kyivstar technical teams are working on eliminating the consequences of the hacker attack and restoring communication as soon as possible.

What is VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON) doing to keep stakeholders and customers informed about the situation?

VEON and Kyivstar will continue to inform their stakeholders and customers about the progress and impact of the incident.