Nasdaq OMX reportedly hacked

Nasdaq OMX reportedly hacked

Summary: Nasdaq OMX, which owns the stock exchange that lists numerous tech giants ranging from Intel to Microsoft to Cisco, has reportedly been hacked, but it's unclear to what extent.

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Nasdaq OMX, which owns the stock exchange that lists numerous tech giants ranging from Intel to Microsoft to Cisco, has reportedly been hacked, but it's unclear to what extent.

According to the Wall Street Journal, hackers have "repeatedly" hacked Nasdaq OMX computers. Nasdaq OMX runs the Nasdaq market. It's early in a Federal investigation, but the Journal notes the following:

  • The Nasdaq trading platform wasn't compromised.
  • Motives are unclear, but financial gain, theft and potential terrorism are all possibilities.
  • The Feds consider hacking Nasdaq OMX the equivalent of messing with utilities or other key infrastructure.
  • Hackers didn't do anything nefarious, but just poked around.

This news is very worrisome for obvious reasons. First, the Nasdaq OMX doesn't know if it covered all of its weak spots. And if hackers did eventually get to electronic trading systems---algorithms rule the stock market roost these days---they could spark a crash that would make last May's "flash crash" look like a day at the beach.

Security breaches are listed as a risk factor in Nasdaq OMX's annual report:

Our systems and operations also are vulnerable to damage or interruption from human error, natural disasters, power loss, sabotage or terrorism, computer viruses, intentional acts of vandalism and similar events. We have programs in place to identify and minimize our exposure to these vulnerabilities and work in collaboration with the technology industry to share corrective measures with our business partners. Although we currently maintain and expect to maintain multiple computer facilities that are designed to provide redundancy and back-up to reduce the risk of system disruptions and have facilities in place that are expected to maintain service during a system disruption, such systems and facilities may prove inadequate. Any system failure that causes an interruption in service or decreases the responsiveness of our services could impair our reputation, damage our brand name and negatively impact our business, financial condition and operating results.

Topics: CXO, Government, Government US, Security

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12 comments
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  • 'T' is for 'Turn off your brains'

    "Motives are unclear, but financial gain, theft and potential terrorism are all possibilities."

    Man they throw that T word into everything these days. 'T' for 'turn off your brains'.

    Presumably if the trading platform wasn't compromised, then it's the webserver that was compromised, the one that says 'we are Nasdaq, here are the stocks that we list...'?

    In which case they need to clean up their webhosting and get a new admin.
    guihombre
  • Of course

    Bunch of tight wads running the IT department, security is always the last thing thought of and first thing cut. All the financial bean counters should be fired and thrown in jail.
    james347
    • Mr James you are so right there no word to comment how right you are

      @james347
      Again company/organisation are bound to fail as long as profit vs security will still be a debate .

      those who will keep this path will pay a dear price .....
      Quebec-french
  • question

    Could this be a signal the os and application that we use are not secure .....

    could it be a signal that security and protection have become the first priority in IT

    what will it take to change the way we do thing. end of the world .

    human stupidity will always amaze me
    Quebec-french
  • Will the same people who pointed out that

    London Stock Exchange that had issue because they where running Windows point out that Nasdaq OMX that was hacked run Linux?

    Just curious...
    John Zern
    • i think we are way pass brand name

      @John Zern

      Linux windows mac os x name it you have it , what is needed is something new and bullet proof period. in not preaching for this is better that than . We see hack comming from every platform this should be a wake up call
      Quebec-french
      • My point exactly

        @Quebec-french.
        Someone could easily write a trojan for OS X, all Apple like reading "OS X just intercepted and iradicated a Windows virus attempting to load onto you system. Please click OK to close this alert". and "boom", they're running it, as they believe the hype that it can't happen to them.
        Even Apple never makes that claim in their comercials, though they do tell everyone that it can happen to Windows.
        So yeah, you're right: if they write it, someone will hack it.
        John Zern
    • RE: Nasdaq OMX reportedly hacked

      @John Zern <br><br>Except NASDAQ runs Windows for the Web presence.<br><br><a href="http://searchdns.netcraft.com/?host=http%3A%2F%2Fwww.nasdaqomx.com%2F&x=0&y=0" target="_blank" rel="nofollow">http://searchdns.netcraft.com/?host=http%3A%2F%2Fwww.nasdaqomx.com%2F&x=0&y=0</a><br><br><a href="http://toolbar.netcraft.com/site_report?url=http://www.nasdaq.com" target="_blank" rel="nofollow">http://toolbar.netcraft.com/site_report?url=http://www.nasdaq.com</a><br><br>So No Linux involved at all. <br><br>Again shows Windows has no place in a Web presence.<br>

      Note that the trading platforms (which run Linux) were [b]not[/b] hacked.
      <br><b> WINDOWS HAS NO PLACE ON THE INTERNET PERIOD. END OF DISCUSSION. BOYCOTT ALL COMPANIES THAT USE WINDOWS ON THE INTERNET!</b>
      itguy08
      • YOU HAVE NO PLACE HERe!!

        @itguy08 havent you figured out your one of the stupidest people here?!?! <br>i take that back - you ARE the stupidest person here!!!!!!

        https://lwn.net/Articles/411064/
        Ron Bergundy
  • RE: Nasdaq OMX reportedly hacked

    The report states that the Nasdaq OMX network was hacked and that the Nasdaq web site was not accessed. The report does not state how the network was accessed or if a certain OS was the problem.
    daikon
  • Interesting point you make, Larry:

    <i>"The Feds consider hacking Nasdaq OMX the equivalent of messing with utilities or other key infrastructure. "</i><br><br>Which I presume, if Lieberman's bill gets passed, this type of scenario would fall under the reach of POTUS?<br><br>I wonder if this 'breach' was discovered by the same intelligence agency that were privy to WMD's in Iraq? That we [i]had[/i] to war over?

    (Of course, if such a crash happened due to hackers or market conditions, the Nasdaq would shut itself down anyway, no?)<br><br>In either case, I would imagine the Nasdaq or NYSE having to shut down for 1 or more trading days due to a breach, while they secure their systems / verify algorithm integrity, global trading confidence would be shaken and the U.S. as well as the other major trading markets around the world would feel the sting.<br><br>Makes me further question how smart the consumerization of IT is that a vast majority thinks is such a good idea.
    SonofaSailor
  • RE: Nasdaq OMX reportedly hacked

    @Ron Bergundy
    Wouldn't that be "You're one of the stupidest people here?!?! and not your. Just a thought.
    litha9