VNDirect, one of Vietnam's largest brokerages, has initiated the restoration process for its systems following a cyberattack over the past weekend, which compelled the suspension of trading transactions. While specific details regarding the cyberattack remain limited, VNDirect's CEO, Nguyen Vu Long, revealed that the attackers encrypted the brokerage's data. Long stated, "VNDirect was attacked by a group of professional hackers who encrypted our company data. We have now completed decrypting the blocked data and [are] starting to restore the system," in an interview with a local media outlet. According to a government financial official, the cyberattack solely targeted VNDirect and did not impact any other financial organizations. Pham Hong Son, the vice chairman of Vietnam's State Securities Commission (SSC), assured Reuters, "We do not see risk of contagion." In a social media update, VNDirect outlined a four-stage process for system restoration. The initial stage, involving the restoration of customer accounts, has been successfully completed. Subsequent stages will focus on restoring floor trading and other financial services gradually. This incident adds to a series of high-profile cyber threats faced by Vietnam's financial industry. Notably, in August 2022, approximately 50 Vietnamese financial organizations fell victim to an Android Trojan known as GoldDigger. The swift response and ongoing restoration efforts by VNDirect underscore the importance of cybersecurity readiness in the financial sector. As cyber threats continue to evolve, vigilance and proactive measures remain essential for safeguarding sensitive financial data and maintaining the trust of customers and stakeholders alike.
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