New Zealand Stock Exchange Hit Repeatedly by Cybercriminals Demanding Bitcoin
NZX has halted trading for the third day in a row as a result of cybercriminals attempting to extort cryptocurrency.
Aug 27, 2020 at 10:19 a.m. UTCUpdated Aug 19, 2021 at 3:57 a.m. UTC
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The New Zealand stock exchange has halted trading for the third day in a row as a result of criminal cyberattacks.
- According to a report by Bloomberg on Thursday, the NZX exchange has suffered connectivity issues leading to a series of outages that were the result of targeted disruption by bad actors from outside the country.
- The criminals are demanding bitcoin in order to cease the distributed denial-of-service (DDoS) attacks, which flood the bandwidth of a particular system with traffic and rendering it slow or unusable.
- The exchange suffered outages during the last hour of trading on Tuesday and again for over three hours on Wednesday.
- Today’s outage has yet to be resolved, according to Bloomberg.
- According to another report by ZDNet, the attacks may be directed by a criminal cyber gang using monikers including Amada Collective and Fancy Bear that belong to more famous hacker groups.
- Specifically, the attackers have been targeting the exchange's hosting service Spark, demonstrating a level of sophistication by regularly changing the protocols involved.
- Over recent weeks, the group has tried to extort bitcoin from other well-known financial services including PayPal, MoneyGram, YesBank India, Braintree and Venmo.
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