Stocks News

Vietnam stock market reports first cyberattack

Brokerage suspended pending corrective measures nevertheless regulators behold no contagion chance

PUBLISHED : 27 Mar 2024 at 14:34

Vietnam stock market reports first cyberattack

A statue of a bull and undergo is considered launch air the constructing housing the Ho Chi Minh Stock Alternate in Vietnam’s greatest metropolis. (Portray: Syced thru Wikimedia Commons)

HANOI – Financial institutions are no longer in concern from the foremost cyberattack on a Vietnamese brokerage, the market regulator acknowledged on Wednesday, after the nation’s third-greatest securities agency used to be suspended after it used to be centered over the weekend.

VNDirect, Vietnam’s third greatest broker in terms of transactions dealt with in accordance to the Ho Chi Minh City substitute, has been disconnected from the procuring and selling machine since Monday.

“We develop no longer behold chance of contagion,” Pham Hong Son, the vice chairman of Vietnam’s Narrate Securities Price (SSC), urged Reuters, along with that no other brokers had been affected.

VNDirect declined to touch upon when it would resume procuring and selling. It also declined to assert how essential harm it had sustained within the attack.

In a demonstrate printed on Monday, the broker acknowledged its “whole machine used to be attacked by a world organisation” on Sunday, making its procuring and selling platform temporarily inaccessible, nevertheless and not utilizing a affect on customers’ assets or data. The company’s shares beget fallen by almost 4% since the launch of the week.

Asked about the attacker, the SSC declined to comment.

Son acknowledged there used to be no have to take additional action to diminish the cyberattack’s affect on procuring and selling, along with that merchants could per chance well use accounts at other securities companies.

On Monday, transaction volumes on the HCMC bourse fell by 10%, in accordance to LSEG, as merchants the use of VNDirect couldn’t substitute. The benchmark index also fell 1.1% on Monday.

“No topic critical rises in some tickers, the highlight of the day used to be on VNDirect’s cybersecurity breach, casting a shadow over market sentiment,” Mirae Asset Securities, another broker acknowledged in a demonstrate.

Be taught Extra

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button