Nepal’s stock market has a bigger problem than a ransomware attack: Everything you need to know
Summary
A ransomware attack on Data Hub Pvt Ltd forced NEPSE to suspend a full day of trading, exposing how heavily Nepal’s stock market depends on a small number of vendors and shared systems. The disruption also highlighted deeper structural weaknesses, including monopoly concerns, infrastructure consolidation and regulatory challenges in the market.
Key Points
- A ransomware attack on Data Hub Pvt Ltd froze trading infrastructure for 72 of Nepal’s 90 brokerage firms and forced NEPSE to halt trading for a full day.
- NEPSE’s core trading engine was not breached, but the shared network and fairness concerns made a full-market suspension necessary.
- The incident exposed long-standing structural vulnerabilities in Nepal’s stock market, including vendor dependence, monopoly dynamics and weak infrastructure resilience.
- SEBON has ordered an investigation into the shutdown and wants recommendations to improve market security and transparency.
