Microsoft disclosed multiple vulnerabilities in on-premises Exchange Server, including CVE-2021-31207 (security feature bypass), CVE-2021-31209 (spoofing), and CVE-2022-41040 (elevation of privilege). The issues affected Exchange deployments rather than Exchange Online, extending a pattern of high-impact weaknesses in the mail platform that could undermine trust boundaries, enable impersonation, and weaken built-in protections.
Among them, CVE-2022-41040 was rated Critical with a CVSS 3.1 score of 8.8, and Microsoft said exploitation had been detected in the wild before public disclosure. The flaw required an authenticated attacker with low privileges and no user interaction, and successful exploitation could allow the attacker to run PowerShell as SYSTEM. Microsoft later released security updates and directed Exchange Server customers to apply mitigations and patches for the reported zero-day issues.

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3 events from the most recent confirmed update back to the earliest known activity.
Microsoft later released security updates addressing CVE-2022-41040. The fixes were made available on 2022-11-08.
Microsoft disclosed CVE-2022-41040, an elevation-of-privilege vulnerability affecting Microsoft Exchange Server. Microsoft said exploitation had been detected in the wild and advised Exchange Server customers to follow mitigation guidance for the reported Exchange zero-days.
Microsoft listed CVE-2021-31207, a Microsoft Exchange Server security feature bypass vulnerability, and CVE-2021-31209, a Microsoft Exchange Server spoofing vulnerability, in its Security Update Guide. Both advisories were published on 2021-05-11.
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