Multiple Australian pension funds, including AustralianSuper, Australian Retirement Trust, Hostplus, Rest, and Insignia, have been targeted in a coordinated cyber attack, resulting in the compromise of thousands of member accounts. The attack, which involved credential stuffing and a password leak, led to unauthorized withdrawals from some accounts, with at least four members of AustralianSuper losing a total of $500,000. The cyber attack affected the $2.66 trillion Australian superannuation industry, with over 20,000 accounts compromised across various funds. AustralianSuper, the country's largest fund with 3.5 million members and managing $365 billion, confirmed that hackers used stolen passwords to access at least 600 accounts. Other funds like Rest reported unauthorized activity on their online portals, affecting around 8,000 members. Some members experienced their accounts displaying a zero balance due to technical difficulties. The Australian government, through its cyber security chief, has acknowledged the severity of the attacks and is working with regulators and the industry to address the threat. Cyber experts have pointed out major security weaknesses in the superannuation sector, calling the breach a wake-up call. The industry body, the Association of Superannuation Funds of Australia, is contacting all affected members and helping those whose data has been compromised. Prime Minister Anthony Albanese noted that cyberattacks occur in Australia roughly every six minutes, highlighting the ongoing challenge of cyber security in the country. Impacted customers are likely to be protected by insurance.