Sentenced to Russian hackers who attacked US exchanges
Between 2005 and 2012, a group of Russian hackers broke into the systems of more than 16 companies and stole 160 million credit and debit card numbers. Among the victims were the Nasdaq exchange, Citigroup, JetBlue, Visa, and other equally important organizations. The activity of hackers was called "the largest cyber attack in US history."
Hacking Nasdaq
In October 2010, a suspicious transfer of data from one of the central servers of the electronic exchange was recorded. It turned out that hackers took advantage of vulnerabilities in software and implemented malicious code. The program was not just spyware: it could not only steal information, but also completely destroy the computer network. According to the NSA, such a program is capable of disabling an entire stock exchange.
')
According to the original version of the investigation, the malicious code was introduced in order to steal customer data or even destroy the stock exchange, but then this information was denied. As it turned out, the hackers wanted to understand the principle of the exchange, in order to then use it in the work of the Russian stock exchanges. The attack was able to be repelled, but to ensure that, if the hackers were not prevented, it still remains in question. This attack has proven how vulnerable even large organizations like Nasdaq are.
Sentence
The investigation revealed that the hacker attacks were carried out by the Russians Vladimir Drinkman and Dmitry Smilyanets. In 2013, they were arrested in the Netherlands, and then extradited to the United States. In 2015, they pleaded guilty to involvement in the attacks. According to investigators, in addition to them, three more Russian citizens participated in the crimes.
A US court announced sentences to Russian hackers on February 14, 2018. Vladimir Drinkman was sentenced to 12 years in prison, and his accomplice, Dmitry Smilyanets, to 4 years. He had already served this term while under arrest and he was released in the courtroom.
Hacks and the Russian financial market
In February 2015, there was an attack on "Energobank". Hackers managed to gain access to a computer from which transactions were carried out on the Moscow Stock Exchange. Intervention in the course of trading led to high volatility - the dollar exchange rate within a few minutes ranged from 55 to 65 rubles. However, before the attack, the rate was 62 rubles and hesitated a few kopecks.
The attack lasted only 14 minutes. During this time, hackers have placed five applications for the purchase of 437 million dollars and two applications for the sale of 97 million. As a result of unauthorized operations, the bank lost 243 million rubles.
On modern stock exchanges, there are rules that allow you to minimize the consequences of sudden and strong price movements. Usually, before the start of trading, a corridor is established within which the price may change during the trading session. When going beyond its limits, trading stops - this helps prevent situations where, if a panic arises in the market, the price of any financial instruments can fall by tens of percent per day.
In addition, disruptions can occur for reasons unrelated to the activities of cybercriminals. In any case, stopping the bidding is not the only possible problem. Errors in the work of the exchange system can lead to incorrect display of trading data or incorrect calculation of the collateral to hold the position (an error can even lead to premature closing of the transaction)
In order to minimize possible damage, brokerage companies are developing various systems to protect customers. For example, such protection is in the SmartX trading terminal .
Other materials on finance and stock market from ITI Capital :
Source: https://habr.com/ru/post/350840/
All Articles