In an online statement posted online, financial technology firm EquiLend disclosed that on January 22nd it was hit with a cyberattack which forced it to take several of its systems offline and may require several more days to recover from. The firm is the owner of NGT, a trading platform that executes $2.4 trillion of securities trades each month.
“We immediately launched an investigation and have identified a cyber security incident involving unauthorized access to our systems. We took immediate steps to secure our systems and are working methodically to restore the involved services as quickly as possible.
“We are working with external cybersecurity firms and other professional advisers to assist with our investigation and restoration of service. Clients have been advised that this may take several days,” the company said.
EquiLend was created in 2000 with the intention of making the securities finance industry more efficient through a centralized platform for trading and post-trade services. Financial firms like Bank of America, Merrill Lynch, BlackRock, Credit Suisse, Goldman Sachs, JP Morgan, Morgan Stanley, UBS and others make up its board of directors.
Mark Cooper, President & Founder, PKI Solutions had this to say:
“It is unfortunate that we continue to see day after day reports of unauthorized access to critical systems in the financial, energy, and water management industries. Modern authentication systems have been around for a number of years that increase the integrity and privacy of organizational identities. The majority of these compromises are from out-of-date approaches of user passwords. Stronger systems that utilize certificate-based identities tied to physical tokens make attacks like this considerably more complex and harder to execute. Along with stronger identities, the ability to monitor and alert on foundational security issues helps to ensure the deployed technology isn’t vulnerable to known attacks.”
We’re barely through the first month of 2024 and the pwnage is already epic. And it’s likely to get worse as we through the year. And I’m not looking forward to that.
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This entry was posted on January 26, 2024 at 8:30 am and is filed under Commentary with tags Hacked. You can follow any responses to this entry through the RSS 2.0 feed.
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EquiLend Pwned And Will Be Offline For Several Days
In an online statement posted online, financial technology firm EquiLend disclosed that on January 22nd it was hit with a cyberattack which forced it to take several of its systems offline and may require several more days to recover from. The firm is the owner of NGT, a trading platform that executes $2.4 trillion of securities trades each month.
“We immediately launched an investigation and have identified a cyber security incident involving unauthorized access to our systems. We took immediate steps to secure our systems and are working methodically to restore the involved services as quickly as possible.
“We are working with external cybersecurity firms and other professional advisers to assist with our investigation and restoration of service. Clients have been advised that this may take several days,” the company said.
EquiLend was created in 2000 with the intention of making the securities finance industry more efficient through a centralized platform for trading and post-trade services. Financial firms like Bank of America, Merrill Lynch, BlackRock, Credit Suisse, Goldman Sachs, JP Morgan, Morgan Stanley, UBS and others make up its board of directors.
Mark Cooper, President & Founder, PKI Solutions had this to say:
“It is unfortunate that we continue to see day after day reports of unauthorized access to critical systems in the financial, energy, and water management industries. Modern authentication systems have been around for a number of years that increase the integrity and privacy of organizational identities. The majority of these compromises are from out-of-date approaches of user passwords. Stronger systems that utilize certificate-based identities tied to physical tokens make attacks like this considerably more complex and harder to execute. Along with stronger identities, the ability to monitor and alert on foundational security issues helps to ensure the deployed technology isn’t vulnerable to known attacks.”
We’re barely through the first month of 2024 and the pwnage is already epic. And it’s likely to get worse as we through the year. And I’m not looking forward to that.
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This entry was posted on January 26, 2024 at 8:30 am and is filed under Commentary with tags Hacked. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.