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Art Basel’s Parent Company Hit by Cyberattack

Art Basel’s Parent Company Hit by Cyberattack


Art Basel’s Parent Company Hit by Cyberattack

MCH Group, the parent company of Art Basel, was the target of a cyberattack on October 20. The company is working with police and Swiss authorities to discover the identity of those behind the attack, which was carried out via malware. In a statement released on the subject, fair organizers admitted that the personal information of employees, partners, and clients—who include some of the wealthiest individuals in the world—had been compromised.The attack was discovered by MCH’s security systems. Based in Basel, the live marketing company hosts an array of art fairs including Art Basel, Miami Beach, and Hong Kong, as well as the watch show Baselworld and various events devoted to cars, construction, and motorbikes. The publicly listed company employs more than seven hundred people; several major public entities hold stakes in it.In a statement published on its website, MCH Group noted that it had filed criminal charges against the as-yet-unknown assailants and advised its customers to change the passwords associated with their accounts and to do the same with all other unrelated accounts bearing identical passwords. Art Basel officials, while noting that all scheduled events would take place as planned despite the hack, urged clients to “exercise caution when dealing with unknown contacts, for instance if you are contacted by third parties by e-mail or telephone, who may represent themselves as your bank, internet provider or insurance company.”The security breach was part of a larger wave of cyberattacks taking place across Switzerland in recent weeks. The same day MCH Group announced the attack, it was revealed that hackers had raided the Easygov federal portal and absconded with the names of roughly 130,000 companies who had applied for emergency financial credit during the pandemic. The city of Montreux and the canton and city of St. Gallen have reported cyberinvasion, as have a number of companies, including Comparis, Saurer, and the Neuchâtel Cantonal Bank.


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