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New Zealand stock exchange under cyber attack

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
New Zealand Bourse takes measures against cyber attacks

Tough week for the New Zealand stock exchange. The bourse has been the target of cyber attacks for the past week.

It all started when the stock exchange alongside money transfer services like MoneyGram, Worldpay, PayPal, Venmo, Braintree, and many more, have been the victims of DDoS (distributed denial of service) attacks. For the past week, New Zealand's stock exchange was closed, as it was looking for ways to restore its servers after the incidents.

According to New Zealand's press, the attacks are caused by a global criminal syndicate, looking to extort #bitcoin from the above-mentioned PayPal and Venmo. The hackers are reportedly part of the Armada Collective and Fancy Bear groups. 

However, the stock exchange managed to be up and running despite the website being down, as the platform was relying on contingency arrangements. The bourse stated that it is currently working with a US-based cybersecurity specialized company and governmental agencies to implement security measures.  

But the bourse is not the only one under such attacks. #Tesla reported a DDoS-bitcoin scheme. The FBI handled the matter, and a member of the Russian intelligence has been arrested.  

Currently, the NZD/USD pair is trading 0.21% lower at 0.6729.

Sources: reuters.com, theregister.com, zdnet.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.