Hackers Spy on NASDAQ Company Boards

Nasdaq’s computer systems that were infiltrated by hackers last year, installed malicious software’s on the company’s computer system that permitted them to secretly monitor the board directors of companies that do transaction on Nasdaq, as per two sources investigating the ongoing issue.

Nasdaq QMX group (NASDAQ:NDAQ), in February had said that there was no such evidence to show that the hackers had accessed customer data. The fresh details projected that the hacker attack was more severe than previously thought.

The investigation on the cyber attack, involving the National Security Agency and FBI, is ongoing. It is yet unknown what data and information the hackers might have stolen. A popular expertise in cyber security and with good experience protecting cyber information of high profile financial institutions and central banks from hacker attacks told that the impact of such a long term cyber attack is yet unknown and it is uncertain what have the hackers done exactly.

This attack where hackers infiltrate one target to gain access to a different target is known as a blended attack, and Nasdaq’s attack was a similar case. Digital security keys form EMC Corp’s RSA security sector was stolen by hackers in March and later they made use of it to break into the defense contractor, Lockheed Martin Corp’s computer networks.

Hackers did not compromise the trading platforms according to Nadsaq, however they attacked Directors Desk, a web based software program that facilitates corporate boards to communicate with executives and share documents. Kellermann, chief officer at Airport Corp a security technology firm said, the hackers accessed confidential documents and spied on the communications of board directors by hacking on to Directors Desk.

Investigators have found that the hackers also spied on scores of directors who logged onto directorsdesk.com before the removal of malicious software. A spokesman of Nadsaq confirmed the cyber attack investigation continues, however declined further details. Before to the discovery of the hacker attack last October, it was unclear for how long the computer network of the firm was breached.

Shawn Henry, executive assistant FBI director said hundreds of millions of dollars are lost every year by the financial services as result of hacker attacks and these attacks in nature were increasingly destructive. Adding on he said that a credible threat to other sectors is seen, but specially in the financial service divisions. Mr. Henry refused to comment on the Nasdaq hacker attack.

Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.