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The Hacking of NASDAQ
puddingebola (2036796) writes Businessweek has an account of the 2010 hacking of the NASDAQ exchange. From the article, "Intelligence and law enforcement agencies, under pressure to decipher a complex hack, struggled to provide an even moderately clear picture to policymakers. After months of work, there were still basic disagreements in different parts of government over who was behind the incident and why. 'We've seen a nation-state gain access to at least one of our stock exchanges, I'll put it that way, and it's not crystal clear what their final objective is,' says House Intelligence Committee Chairman Mike Rogers, a Republican from Michigan, who agreed to talk about the incident only in general terms because the details remain classified. 'The bad news of that equation is, I'm not sure you will really know until that final trigger is pulled. And you never want to get to that.'"
Would we even notice if it was hacked?
Was it a foreign government, or your own government?
Quite frankly, I find either plausible.
Lost at C:>. Found at C.
'We've seen a nation-state gain access to at least one of our stock exchanges, I'll put it that way, and it's not crystal clear what their final objective is,' says House Intelligence Committee Chairman Mike Rogers
Ummm to make money or destabilize our economy?
Makes one feel good that you are the head of the Intelligence Committee.
The security of the stock exchanges is really pretty bad. Low latency access means no firewalls and few application level checks. For the longest time people were sending ethernet raw packets...There is a perverse incentive not to properly secure exchanges because security is slow.
I forget which one, but as I recall the solution was to restore everything to the state before the hack, erasing the tainted trades along with all the valid ones.
Q: What does the "B." in Benoit B. Mandelbrot stand for? A: Benoit B. Mandelbrot
i wonder what newly minted organization that will undoubtedly be called in to 'protect us' while stripping yet more privacy and liberties. (of course getting budgeted billions to do the job). oh wait - theyve already announced it. and it's the benevolent wisdom of the usual suspects that will save us all!
Wow. Something happened, but we don't know what or why.
That would require basically infinite storage and run very, very slowly. In effect, the disk (which is the slowest of CPU/memory/network/disk) becomes the bottleneck preventing any of the others from being well utilized.
There are much better ways to track what happens on critical systems, but they introduce costs that most organizations consider excessive or unnecessary, right until after a breech where they realize how the alternative can be orders of magnitude more expensive.
Isn't wall street doing enough to destroy our economy for their short term benefit? If I was a hacker, I'd pick a more interesting target than one which collapses on its own greed twice in a decade.
I can only guess you didn't read even the first sentence of TFS. The attack occurred in 2010, so this is hardly a case of "people panic way to quick".
"or it was just a bug" - we have a copy the malware they used, and they exploited at least two zero-day vulnerabilities, and were accessing the system for months.
This incident was kind of a big deal. Someone with sophisticated exploit capabilities had run of Nasdaq's network for several months.
Isn't this probaly one of the foremost National Security issues of the US? The freaking Stock Exchanges? You're telling me they don't know to what end, or who was in it?
If even part of this is true, this country really is FUCKED! All the way to the top!
Guess who didn't RTFA?
Jesus was all right but his disciples were thick and ordinary. -John Lennon
He has lied, willfully exaggerated and generally acted like a complete piece of shit countless times. Do not believe anything out of that man's mouth, ever.
Look no further than a too-big-to-fail company, e.g. Goldman Sachs.
The security of the stock exchanges is really pretty bad. Low latency access means no firewalls and few application level checks. For the longest time people were sending ethernet raw packets...There is a perverse incentive not to properly secure exchanges because security is slow.
Technically true. However in the quest for low latency there has been a tendency for some to colocate with the exchange. So if an exchange system and a broker system are in the same high physical security room and have a direct connection between them then the risk is mitigated to a degree.
It's all part of getting the rich richer and the rest frightened.
Don't be tricked by the conmen.
If you review the details, the attackers were on one specific non-trading application owned by Nasdaq and had some access to their internal network. There is no evidence that they had any access to the exchange's systems, which are on a segregated network. In other words "the exchange" was not hacked at all.
This posting is provided 'AS IS' without warranty of any kind, implied or otherwise.
The Chinese, the French, the Israelis—and many less well known or understood players—all hack in one way or another.
But never the USA.
Watch this Heartland Institute video