Broker VNDirect set to resume operations next Monday after ransomware attack

Leading brokerage house VNDirect Securities is completing procedures to get re-connected to the Ho Chi Minh and Hanoi stock exchanges (HoSE and HNX) with a plan to resume operations next Monday after a ransomware attack forced its suspension.

VNDirect, listed on the HoSE as VND, says on its website that testing of connections with the two stock exchanges has been going on since Thursday.

“Currently, our technicians’ team and security experts are in the process of studying security vulnerabilities (if any) to ensure the system is secure,” it says.

The IT system of VNDirect, one of the 10 largest brokers in the country, was attacked March 24 morning. A day later, both the Ho Chi Minh and Hanoi stock exchanges disconnected the company to ensure system safety.

Based on the results of VNDirect's remediation, they will consider resuming connections.

Nguyen Vu Long, CEO of VNDirect, said the attack was carried out by a professional international organization, making all data encrypted.

The firm has set a four-stage roadmap to reopen the system, he said, emphasizing that all customer information and assets are safe and unaffected.

The attack only affected customers' “current transactions,” he noted.

VND closed Thursday’s session at VND23,200 ($0.94), down 4.5% from March 22, before the attack.