Check Point Software

Exploits on Organizations Worldwide Grow Tenfold after Microsoft’s Revelation of Four Zero-days

Following the revelation of four zero-day vulnerabilities currently affecting Microsoft Exchange Server, Check Point Research (CPR) discloses its latest observations on exploitation attempts against organizations that it tracks worldwide.

**Updated March 15th 2021 5:30 ET

By, Yaniv Balmas, Head of Cyber Research; Lotem Finkelsteen, Threat Intelligence Group Manager; Adi Ikan, Head of Network Research and Protection; Sagi Tzadik, Security Researcher

Since the recently disclosed vulnerabilities on Microsoft Exchange Servers, a full race has started amongst hackers and security professionals. Global experts are using massive preventative efforts to combat hackers who are working day-in and day-out to produce an exploit that can successfully leverage the remote code execution vulnerabilities in Microsoft Exchange.

CPR has outlined the disclosed vulnerabilities, the targeted organizations by country and industry, and then recommendations to prevent the attacks, which are yet to come.

Current attack attempts in numbers

The country most attacked has been The United States (17% of all exploit attempts), followed by Germany (6%), the United Kingdom (5%), The Netherlands (5%) and Russia (4%).

Most targeted industry sector has been Government/Military (23% of all exploit attempts), followed by Manufacturing (15%), Banking & Financial Services (14%), Software vendors (7%) and Healthcare (6%).

Behind-the-scenes of the Zero Days

On March 3, 2021 Microsoft released an emergency patch for its Exchange Server product, the most popular mail server worldwide. All incoming and outgoing emails, calendar invitations and virtually anything accessed within Outlook goes through the Exchange server.

Orange Tsai (Cheng-Da Tsai) from DEVCORE, a security firm based in Taiwan, reported two vulnerabilities in January. Unware of the full magnitude of these findings, Microsoft was prompted to further investigate their Exchange server. The investigation uncovered five more critical vulnerabilities.

The vulnerabilities allow an attacker to read emails from an Exchange server without authentication or accessing an individual’s email account. Further vulnerability chaining enables attackers to completely take over the mail server itself.

Once an attacker takes over the Exchange server, they can open the network to the internet and access it remotely. As many Exchange servers have internet exposer (specifically Outlook Web Access feature) and are integrated within the broader network, this poses a critical security risk for millions of organizations.

Orange Tsai (Cheng-Da Tsai) teaser for pre-authentication remote code execution chain on Twitter, Jan 05,2021


What organizations are at risk?

If your organization’s Microsoft Exchange server is exposed to the internet, and has not been updated with the latest patches nor protected by a third party software such as Check Point, then you should assume the server is completely compromised. Compromised servers could enable an unauthorized attacker to extract your corporate emails and execute malicious code inside your organization with high privileges.


Technical Explanation

Since the disclosure, CPR has received questions regarding the identity of the attackers, their motivation and the wide context of recent major hacks.

In this attack, as in Sunburst, a particularly common platform was used as a front door for covert entry and prolonged stay within the network. The good news is that only highly skilled and well-financed threat actors are capable of using the front door to potentially enter tens of thousands of organizations worldwide. While hacking the exchange server with zero days is quite impressive, the purpose of the attack and what cybercriminals wanted within the network is still unknown. Organizations who are at risk should not only take preventive actions on their Exchange, but also scan their networks for live threats and assess all assets.

Prevent Future Attacks and Remain Protected

Here are Check Point’s recommendations to prevent future attacks and remain protected:


Threat Emulation


Check Point Harmony Endpoint (formally known as SandBlast Agent)



Harmony Endpoint: predefined queries for threat hunting

Behavior Guard Updates

“Behavioral Guard” – Harmony Endpoint’s behavior protection engine – has also been promptly updated with the relevant signatures which includes post exploitation detection of data collections attempts and credential dumping. These signatures are being automatically updated with all Harmony Endpoint installations to ensure protection for Harmony Endpoint customers.