all

Nasdaq Networks Infiltrated by Hackers


Saturday, February 5th, 2011
News

According to the Wall Street Journal, hackers have repetitively infiltrated the network that runs the Nasdaq Stock Market this past year. Fortunately, the part of the system that executes trades has not been breached, but investigators cannot be certain what other areas of the network have been penetrated. Investigators from the Secret Service and Federal Bureau of Investigation have begun to investigate the matter.

Unidentified sources familiar with this case, have noted that the individuals involved with the hacking attempts appear to have “just been looking around.” Investigators have been unable to trace the attack back to any specific individual or country, and are to date still unsure of the vulnerabilities within the Nasdaq Stock network.

Historically, stock networks have been prone to attacks by hackers, publically attacking the Nasdaq’s website as recently as 1999 by a group named the “United Loan Gunmen.” The intent of hackers on financial websites is often to break into or slow down the public websites of primary financial establishments. Successful intrusions on these websites are rare, and when they do happen, efforts are taken to contain the spread of the news in order to contain panic among investors.

According to the Associated Press the motives for this specific attack could range from personal financial gain to a legitimate national security threat or possibly theft of trade secrets. What is most disturbing about these attacks is the fact that they occurred for a duration of more than a year before being detected. Officials are still unsure as to the extent of the breaches in security on this network, and will be providing updates in the near future.

 



Article by Andrew Timm

The views expressed are the subjective opinion of the article's author and not of FinancialAdvisory.com