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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.