Cyberattack paralyses NZ stock exchange for third day

WELLINGTON: Cyber attacks forced New Zealand’s stock exchange into a trading halt Thursday — for the third time in as many days — according to its operator and local media.

The New Zealand Exchange (NZX) said the bourse was placed into a trading halt at about 11.10am local time “as a result of network connectivity issues relating to DDoS cybersecurity attacks”.

Distributed denial of service (DDoS) attacks involve disrupting computer networks by flooding them with traffic.

It was the third time the NZX had been targeted in the past three days, following temporary trading halts ordered on both Tuesday and Wednesday, local media reported.

The website also crashed as a result of the cyber attacks, which experts believe likely originated from offshore.

“This decision not to re-open has been made while we focus on addressing the situation,” NZX said in a statement.

“We continue to address the threat and work with cybersecurity experts, and we are doing everything we can to resume normal trading tomorrow.”