A high-severity zero-day flaw in Microsoft Exchange Server is being exploited by threat actors to execute arbitrary code on targeted systems via cross-site scripting (XSS) attacks, specifically targeting users of Outlook on the web. Microsoft has released mitigations for the vulnerability, which allows attackers to gain control over Exchange servers. The exploits are highly sophisticated, indicating a potentially advanced threat actor. The fact that the vulnerability is being exploited in the wild1 means that organizations must act quickly to assess their exposure and apply the necessary mitigations. The vulnerability's existence and exploitation underscore the importance of prompt patching and mitigation, as the window for protecting against such attacks is rapidly shrinking. This vulnerability's exploitation matters to security practitioners because it highlights the need for immediate action to protect against zero-day attacks, which can have severe consequences if left unaddressed.