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Cyber criminals hit NZ stock exchange twice in two days

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NZ stock exchange hit by cyber attack for the second time in two days. Source: Getty
NZ stock exchange hit by cyber attack for the second time in two days. Source: Getty

The New Zealand stock exchange operator, NZX, has halted trading after experiencing an offshore cyber attack – the second hit in two days.

In a joint statement with NZ telco, Spark, the NZX said on Tuesday it was hit by an “attack from offshore, which impacted NZX system connectivity”.

The stock exchange experienced a “volumetric DDOS (distributed denial of service)”, which aims to disrupt service by saturating a network with significant volumes of internet traffic.

The NZX halted trading in its cash markets at around 3:57pm local time on Tuesday, shortly after surging close to its all-time high.

Today, the NZX opened this morning and traded for about an hour before coming to another halt at 11:24am local time.

A spokesperson for the NZX said it appeared it was being affected in a similar way to yesterday’s overseas distributed denial of service attack.

“NZX confirms that it is working with its network service provider to address a further issue today, impacting NZX system connectivity,” the company stated.

“It appears that this is similar to yesterday's issue...NZX's network provider continues to investigate the source of the issue."

More to come.

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