Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Sunday, February 6, 2011

Hackers Invade NASDAQ Computer Systems

On Saturday NASDAQ confirmed that its computer systems had been hacked:

Through our normal security monitoring systems we detected suspicious files on the U.S. servers unrelated to our trading systems and determined that our web facing application Directors Desk was potentially affected. We immediately conducted an investigation, which included outside forensic firms and U.S. federal law enforcement. The files were immediately removed and at this point there is no evidence that any Directors Desk customer information was accessed or acquired by hackers. Our trading platform architecture operates independently from our web-facing services like Directors Desk and at no point was any of NASDAQ OMX’s operated or serviced trading platforms compromised.

 Subsequently, the U.S. Department of Justice requested that we refrain from providing notice to our customers until, at the earliest, February 14, 2011, in order to facilitate the continuing investigation. NASDAQ OMX was honoring the U.S. Government’s request to delay notification, but when a story ran in the media on Saturday, February, 5, 2011, regarding a hacking incident at NASDAQ OMX, we immediately decided, in consultation with the authorities, that we must inform our customers.

 We continue to evaluate and enhance our advanced security controls to respond to the ever increasing global cyber threat and continue to devote extensive resources to further secure our systems. Cyber attacks against corporations and government occur constantly. NASDAQ OMX remains vigilant against such attacks. We have been working in cooperation with the Government’s ongoing investigations and have received their technical advice for which we are appreciative.

Statement on Security Violation to NASDAQ OMX Systems

The Wall St. Journal first broke the story.  Exchanges and traders said that they will continue normal business at the exchange.WSJ,  Nasdaq Trade to Continue as Normal

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Hacking is a knowledge as others but misuse of any knowledge is bad. We must use things and knowledge in positive ways only.

Posted by: Business continuity solutions | Feb 16, 2011 8:03:24 AM

Hacking is already rapidly increasing and it's a fact that this 'especial knowledge' others essentially posses are being misleadingly used. It is yes a very sad thing that this especial tool few incorporate is being abusively generated which is of course a very unethical thing a skillful professional would do.

Posted by: PC tech support | Feb 23, 2011 9:13:58 PM

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