Glitches on stock trading platform risk investments of 8 million investors
Summary
A ransomware attack on Data Hub Pvt Ltd forced NEPSE to halt Monday’s secondary market trading, raising concerns for around 8 million investors. The exchange said the suspension was necessary to protect the trading system and prevent possible misconduct.
Key Points
- NEPSE suspended Monday’s stock trading after a ransomware attack hit the infrastructure of Data Hub Pvt Ltd, which hosts Trade Management Systems for 72 brokerage firms.
- The attack was detected early Sunday, and Data Hub said it isolated its backup system while conducting forensic analysis and recovery work.
- NEPSE said it halted trading under Rule 21(1) to protect investors and reduce the risk of further compromise to its trading platform.
- The disruption has renewed concerns about repeated technical glitches in NEPSE’s system and the safety of Nepal’s growing stock market.
