Major Cyberattack on Chain IQ Hits UBS, Pictet — No Client Data Affected

Major Cyberattack on Chain IQ Hits UBS, Pictet — No Client Data Affected


A major cyberattack has struck Swiss service provider Chain IQ, causing data leaks at several financial institutions, including major banks UBS and Pictet. Fortunately, the affected banks say no client data was compromised.

UBS confirmed the breach on Wednesday, stating that the attack targeted one of its external suppliers. “A cyberattack at an external supplier led to information about UBS and several other companies being stolen. No client data has been affected,” the bank said. UBS added that it acted quickly to protect its operations.

Chain IQ said the attack was part of a larger global cyber campaign that affected about 20 organisations. The attackers posted some of the stolen data on the dark web on June 12, 2025, at 5:15 PM CET. Chain IQ responded by revoking access and containing the incident in under nine hours.

The data leaked includes internal business contact information, such as employee phone numbers from some client companies. Chain IQ said it has secured its systems and alerted law enforcement right away.

Cybersecurity expert Dr. Ilia Kolochenko warned the incident could have serious consequences for Switzerland’s banking sector. “This breach may have a disastrous and long-lasting effect,” he said, stressing the risks tied to third-party vendors. He also warned that legal responsibility might fall on the banks if individuals are harmed due to the breach.

The investigation is ongoing, and authorities are working to assess the full impact of the attack.


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