Hello. Over the past two years, security chiefs from major telecoms providers have been meeting to share information on breach attempts, to exchange intelligence, and develop a more coordinated approach to collective defense in the sector.

That's thanks, in part, to a battering from nation-state hackers, particularly China. WSJ Pro's James Rundle reports that the effort comes largely from security chiefs with backgrounds in financial services, a sector where similar collaboration was instituted over the past decade. Read our full story. 

Also today: 

• Tech unit of Hyundai was hacked, personal data breached
• Marks & Spencer profits plummet due to April cyberattack
• New malware targets foreign-policy professionals
• And more

New malware called SmudgedSerpent targeted academics and foreign policy experts at the height of tensions between Israel and Iran over the summer, researchers at cyber company Proofpoint said.

• Emails, some of which claimed to be from experts at U.S. policy groups such as Brookings Institute, were sent to victims and contained links to credential-stealing malware. (Hacker News)

Hyundai Motor Group's tech-consulting unit said a February hack compromised the names, Social Security numbers and driver's license information of an unspecified number of people. The company, which supplies services to Hyundai and Kia, didn't disclose whether those affected are employees or customers. (Bleeping Computer)

German police arrested 18 people suspected of participating in an online fraud operation that stole the credit-card details of 4.3 million people in 193 countries. Four of Germany's payment processors cooperated in the scams, authorities said, declining to name them. Twenty-six more suspects are believed to be involved. (Reuters)

The WSJ Pro Cybersecurity team is Deputy Bureau Chief Kim S. Nash and reporters Angus Loten, James Rundle and Catherine Stupp. Follow us on X @WSJCyber. Reach the team by replying to any newsletter you receive or by emailing Kim at kim.nash@wsj.com.