The New Zealand stock exchange market has been hit by cyberattacks twice over two days. as per the statements, there were two DDoS (disturbed denial of service) attacks.
They gave the two different statements
The NZX said they first experienced a network connectivity problem by a network service provider as their yesterday statement. The statement quoted “Yesterday afternoon NZX experienced a volumetric DDoS (distributed denial of service) attack from offshore via its network service provider, which impacted NZX network connectivity.”The second one they said whoever behind this hit by the cyber-attack was not spare
After that those areas would resume operation after 3 p.m. The statement stated as “This morning NZX experienced a further disruption similar to yesterday's related to a DDoS (distributed denial of service) attack as such, NZX decided to halt trading in its cash markets at approximately 11.24 am.”
This attack has raised a lot of questions about the security of the Stock exchange market. There is no clarity as a now that who is responsible for the attack neither there is no proof as to what their motivations are?
During a conversation with radio New Zealand, Professor Dave Parry from the Auckland University of Technology Computer science said “Unfortunately, the skills and software to do this are widely available” he also added saying “the disruption of COVID and people working from home all over the world potentially with lower security on their computers means that these attacks are easier than usual."
New Zealand's Minister of Commerce and Consumer Affairs Kris Faafoi has been reported by Radio New Zealand saying that the attack did not seem to be the work of a state actor.
As NXZ quoted on Wednesday “experienced a volumetric DDoS attack from offshore via its network service provider, which impacted NZX network connectivity”. Adding to it NZX also disclosed that the attack had affected NZX websites and the markets announcement platform, causing it to call a trading halt at 3.57 pm.
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