To see whether your own tenant is affected, check Service health in the Microsoft 365 admin center. Only a backup outside Microsoft protects against data loss, and only a tested break-glass account against locked-out admins. We set up both in fixed-scope sprints.
Source: Microsoft Graph, Service Communications API. This is the view of a Swiss Microsoft 365 tenant: services not licensed there are missing, and individual issues may affect your tenant differently. Microsoft names the region only in the issue text. The Switzerland view shows issues for Switzerland, for Europe in general and those without a region, but not issues that only name other countries such as Germany or the UK. This page is not provided by Microsoft.