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“There are limits to what I can say today about the action the government is taking behind the scenes due to significant security considerations,” Robertson mentioned. “We as a government are treating this very seriously.”
NZX opened at 1 p.m. native time on Friday, three hours later than regular due to what the exchange has described as a “sophisticated and severe” distributed denial of service (DDoS) assault.
Trading was first halted at about four p.m. native time on Tuesday, with disruptions to debt, equities and derivatives markets persevering with on Wednesday and Thursday. The exchange’s web site was not accessible after the shut of buying and selling on Friday.
“Given that this is an ongoing response, NZX will not be providing detail on the nature of the attacks or counter-measures,” NZX CEO Mark Peterson mentioned in a press release. “This is a systems connectivity issue not a data or communication integrity issue.”
NZX hosts a lot of New Zealand’s largest firms, together with Fonterra Co-operative Group, which produces over 2 billion liters of milk yearly and is the world’s largest dairy exporter. Overseas traders owned roughly 40% of the equities market as of December 2018.
The motive for the assault on New Zealand’s stock market stays unclear and the exchange has not supplied additional particulars.
”One motive why DDoS assaults are so cheap is that an increasing number of individuals that supply DDoS-for-hire companies are leveraging the size and bandwidth of public clouds,” mentioned Juta Gurinaviciute, chief expertise officer at NordVPN Teams, the cloud-based community supplier.
The assaults have additionally grow to be extra refined, based on Satnam Narang, a analysis engineer at cyber safety firm Tenable. As monetary organizations rely extra on linked units -— the so-called Internet of Things — cybercriminals can goal susceptible units to launch stronger DDoS assaults, he mentioned.
— Laura He and Isaac Yee contributed reporting from Hong Kong.
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