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Hackers force midday suspension of trading at Hong Kong Stock Exchange

SUBNET Solutions Inc | Wednesday, August 10, 2011

The recent spate of high profile cyber security attacks on major businesses and government agencies has prompted many companies to reassess their current cyber security defenses. According to a published report, a major stock exchange is the latest to fall victim to hackers.

According to a report from Reuters, the Hong Kong stock exchange was forced to suspend trading in stocks on Wednesday after it was discovered that hackers had infiltrated the stock exchange's website.

The cyber security intrusion, according to experts, prevented investors and businesses from accessing company announcements made during the midday break. The news was especially troubling given the volatility of global markets over the past few weeks. 

"Our current assessment that this is a result of a malicious attack by outside hacking," Hong Kong Exchanges & Clearing chief executive Charles Li affirmed. 

Officials said that other systems at the exchange were not affected by the cyber attacks, but industry analysts contend it is possible for skilled hackers to break through defenses without leaving evidence of an infiltration. 

The cyber security attack illustrates how vulnerable organizations across a wide spectrum of industries are to hackers, experts say.

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