“A remote code execution vulnerability exists in Microsoft Exchange Server when the server fails to properly create unique keys at install time.
Knowledge of a the validation key allows an authenticated user with a mailbox to pass arbitrary objects to be deserialized by the web application, which runs as SYSTEM.
The security update addresses the vulnerability by correcting how Microsoft Exchange creates the keys during install.”
Zero Day Initiative recently published a write-up about this vulnerability, and some key points to know is “Instead of having randomly-generated keys on a per-installation basis, all installations of Microsoft Exchange Server have the same
decryptionKey values in
web.config. These keys are used to provide security for ViewState.” and “Due to the use of static keys, an authenticated attacker can trick the server into deserializing maliciously crafted ViewState data. With the help of YSoSerial.net, an attacker can execute arbitrary .NET code on the server in the context of the Exchange Control Panel web application, which runs as
So this is bad. On the bright side it requires an authenticated user, but considering the amount of leaked credentials these days it could be better.
We agree with Zero Day Initiative when they say “if you’re an Exchange Server administrator, you should treat this as a Critical-rated patch and deploy it as soon as your testing is complete. Microsoft lists this with an Exploit Index of 1, which means they expect to see exploits within 30 days of the patch release. As demonstrated, that certainly seems likely.”
Update 2020-03-04: Exploit for this vulnerability is now a part of the metasploit framework and exploitation is very easy, just needs any domain user.
Internally Basefarm is tracking this as BF-VLN-1994667.