CVE-2025-59701 is a vulnerability identified in Entrust nShield hardware security modules (HSMs), specifically the Connect XC, 5c, and HSMi models through firmware versions 13.6.11 and 13.7. The core issue is that the appliance’s solid-state drive (SSD), which stores critical cryptographic keys and sensitive operational data, is not encrypted. This design flaw allows an attacker who has both physical proximity to the device and elevated privileges on the system to directly access, read, and modify the SSD contents. Since HSMs are designed to provide a high level of cryptographic security by protecting keys within tamper-resistant hardware, the ability to access unencrypted SSD data undermines the fundamental security guarantees of these devices. The attack requires physical access, which limits the attack surface to insiders or adversaries capable of breaching physical security controls. No remote exploitation or user interaction is necessary beyond elevated privileges and proximity. The vulnerability could lead to key extraction, unauthorized cryptographic operations, or persistent compromise of the HSM, potentially impacting any cryptographic services relying on these devices. No patches or firmware updates are currently linked, and no known exploits have been reported in the wild. The vulnerability was reserved in September 2025 and published in December 2025, indicating recent discovery and disclosure.

For European organizations, the impact of this vulnerability is significant, particularly for those relying on Entrust nShield HSMs to secure cryptographic keys for critical applications such as digital signatures, encryption, authentication, and secure communications. Compromise of the HSM’s SSD contents could lead to exposure of private keys, enabling attackers to impersonate entities, decrypt sensitive data, or undermine trust in digital certificates. This could result in financial loss, regulatory penalties under GDPR and other data protection laws, and damage to organizational reputation. Sectors such as banking, government agencies, telecommunications, and critical infrastructure operators are especially vulnerable due to their reliance on hardware-based cryptographic security. The requirement for physical access and elevated privileges reduces the likelihood of widespread exploitation but raises concerns about insider threats and physical security controls. The absence of encryption on the SSD also suggests a design oversight that could be exploited during device servicing or theft. Overall, the vulnerability threatens confidentiality and integrity of cryptographic operations, with potential cascading effects on availability if HSMs are taken offline or manipulated.

To mitigate this vulnerability, organizations should immediately review and strengthen physical security controls around Entrust nShield HSM deployments, including restricted access to server rooms and hardware. Implement strict access controls and monitoring to prevent unauthorized elevated privilege acquisition. Engage with Entrust to obtain firmware updates or patches addressing SSD encryption as soon as they become available. Until patches are released, consider deploying additional layers of encryption at the application level to protect keys and sensitive data. Regularly audit HSM configurations and logs for signs of tampering or unauthorized access. Employ tamper-evident seals and intrusion detection mechanisms on HSM devices. For high-security environments, consider hardware replacements or alternative HSM solutions that ensure encrypted storage of sensitive data. Additionally, update incident response plans to include scenarios involving physical compromise of HSMs. Finally, educate staff about the risks of insider threats and the importance of physical security hygiene.