Renowned New Zealand stock market exchange is not operational even for the third day within a row as a result of criminal cyberattacks.
In line with a recent official report by Bloomberg today, the NZX exchange has suffered connectivity issues resulting in a series of outages that were the result of a targeted disruption by scammers from outside the country.
The criminals are demanding a ransom to be paid in Bitcoin [BTC] so as to cease the DDoS [Distributed Denial-of-Service] attacks, that are over flooding the bandwidth of a specific system with traffic rendering it slow or unusable.
The exchange suffered outages within the past hour of trading on Tuesday & now again for over three hours on Wednesday.
However, today’s outage has yet to be resolved, consistent with Bloomberg.
As per another report by ZDNet reveal that the attacks could also be directed by a criminal cyber gang employing monikers like Amada Collective as well as Fancy Bear that belong to more famous hacker groups.
Moreover, the scammers are targeting the exchange’s hosting service Spark, demonstrating a critical level of sophistication by regularly modifying the protocols involved.
Since over the past recent weeks, the group has tried to extort Bitcoin [BTC] from other renowned financial services along with PayPal, MoneyGram, YesBank India, Braintree as well as Venmo.