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Ricky Wilson / Stuff
NZX was the target of cyberattacks for four consecutive days last week.
The New Zealand stock market website crashed Monday morning after another cyberattack on the NZX, but trading has not been affected.
Trading in the New Zealand stock market was disrupted on Tuesday, Wednesday, Thursday and Friday as a result of a sustained cyberattack on NZX, a publicly traded company responsible for operating the stock market.
Shortly after 10 a.m. On Monday, the main NZX website was down before being restored around 11am. M.
A spokesperson for NZX said that more cyber attacks on Monday morning affected its website, but that trading had continued “without a problem.”
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NZX CEO Mark Peterson said volumetric DDoS (distributed denial of service) attacks affected NZX’s ability to serve market announcements to the public.
“NZX has been informed by independent cyber specialists that last week’s attacks are among the largest, most resourceful and sophisticated they have ever seen in New Zealand,” Peterson said.
During the attacks, NZX stopped the market to maintain the integrity of the market, it said.
NZX had agreed with the Financial Markets Authority contingency arrangements for publication and access to market announcements, it said.
This was intended to allow trading to continue in the event that the NZX website went offline.
Markets would open Monday morning under the new deals, he said.
Peterson said that NZX was working with its network service provider Spark and national and international cybersecurity partners, including the Government Communications Security Bureau (GCSB).
It had also been working with Nasdaq-listed cyber defense firm Akamai Technologies to implement additional measures.
In a blog post on August 17, Akamai Technologies said that attackers calling themselves Fancy Bear and Armada Collective were targeting the banking, financial and retail sectors and were making extortion demands.
The organizations were sent a threatening email, warning of an imminent DDoS attack against their company unless a ransom was paid in Bitcoin, Akamai said.
“The group posing as the Armada Collective / Fancy Bear had been able to flood victims with bogus web requests at a speed of 200 gigabits per second to flood their online services,” he said.
“The extortion lawsuits are similar to those used by DDoS ransomers in the past.”
Akamai said that previous ransom demands had started at up to 20 Bitcoin (NZ $ 341,140) and increased to 30 Bitcoin per day if the payment deadline was missed.
Stuff Spokeswoman Candice Robertson said the site had been the target of a DDOS attack on Sunday that she had successfully defended.
“It is important to note that Stuff the site remains secure “.
On Monday, the NZX began its usual procedure of publishing company announcements from 8.30 a.m. your query indicates when markets are “read-only”, which means orders cannot be entered, deleted, or modified.
At 9 a.m. M., The market enters its pre-opening session, where traders can do anything except trade.
At 10 a.m., the market opened to regular trading.
Simplicity KiwiSaver CEO Sam Stubbs said the market was working with brokers capable of viewing ads and transacting.
“We have a functioning stock exchange right now.”
The main website was not necessary for commerce, but was important for informational purposes to the public.
“They will definitely have to get that site up and running. It can’t stay long, but it won’t stop us from doing our job. “
Stubbs said last week that the stock exchange could not run company announcements.
“That obviously affects stock prices. So if they can’t run any ads, you can’t trade stocks because you’d be trading on imperfect information. “
As a result, the NZX had to suspend trading.
On Friday, the NZX website crashed around 9.45am and did not open for trading until 1pm.
