Mitsubishi’s FX subsidiary Kabu.com reports DDoS attack

Maria Nikolova

The company has formed a special group of experts to implement counter-measures and prevent future attacks.

Japanese Forex broker Kabu.com Securities, a subsidiary of Mitsubishi UFJ Financial Group Inc (TYO:8306), has fallen victim to a DDoS attack. The cyber attack happened early this morning, according to a report by the company confirming the incident.

The cyber attack targeted the website of the company, which was unavailable for about 36 minutes today. At 9:00, abnormal traffic was detected through the DDoS protection service and the company immediately launched an investigation. At 9:02 it became difficult to access Kabu.com’s website.

At 9:28, the company confirmed that the cause for the abnormal traffic is a cyber attack. At 9:38, the team managed to block the malicious cyber attack and the access to Kabu.com’s website was restored.

The company has established a team of experts to implement counter-measures and prevent future attacks from happening. The broker notes that the transaction system has been operating normally without any interference and that no information leakage was detected.

About two weeks ago, another online trading firm – Questrade, reported that it was the victim of a DDoS attack. The trading platforms of the company were subject to the attack. The company explained that what happened was not a ‘hack’ and no personal information had been compromised.

Cyber security is a serious issue for online trading companies and online payment services providers. It took more than two months for GMO Payment Gateway Inc (TYO:3769) to handle the consequences of a data breach of two of its client websites. The work of both websites – one run by the Tokyo Metropolitan Government and one run by the Japan Housing Finance Agency was stopped on March 10, 2017, several hours after GMO Payment Gateway confirmed unauthorized access to the websites and a heavy data leak. The credit card payment site for metropolitan tax operated by the Tokyo Metropolitan Government reopened on April 24, 2017. The credit card payment website of the Japan Housing Finance Agency was relaunched on June 5, 2017.

Read this next

Digital Assets

Societe Generale launches its own cryptocurrency, EURCV

French banking giant Societe Generale has launched its own euro-pegged stablecoin, EUR CoinVertible (EURCV). This move by France’s third-largest bank reflects the increasing trend of mainstream financial institutions embracing cryptocurrencies on a global scale.

Executive Moves

Stelios Eleftheriou leaves NAGA Group to join BVNK

BVNK, the crypto-powered payments and banking platform for businesses, has appointed FX industry veteran Stelios Eleftheriou, who has a colorful career across the gaming industry, as Business Development Director (CFD & iGaming).

Retail FX

CAPEX.com introduce ETFs on UAE, Saudi stocks

Abu Dhabi-based broker CAPEX.com has expanded its asset class offerings to include a new suite of Exchange-Traded Funds (ETFs) tailored for the United Arab Emirates (UAE) and Kingdom of Saudi Arabia (KSA) markets.

Institutional FX

Tradeweb Markets surges past $1.80 ADV in November

Tradeweb Markets Inc. (Nasdaq: TW) has reported a total trading volume of $38.2 trillion and a record average daily volume (ADV) of $1.80 trillion for November 2023. These figures mark a 59.2% year-over-year increase.

Inside View

A Mission in Accounting

Ismael Haber, an auditor and accountant, has made it his mission to help businesses improve the quality of their financial information by eliminating fraud and error. In the next five years, the demand for these specific financial services, being external financial audits, forensic accounting, and other fraud preventive and detective services is envisaged to increase.

Institutional FX

CME Group to launch new spot FX marketplace ‘CME FX Spot+’ in 2024

US derivatives exchange, CME Group today announced plans to introduce ‘CME FX Spot+’, a novel spot foreign exchange (FX) marketplace.

Interviews

FMLS:2023: Andrew Mreana provides an exclusive sneak peek into cTrader’s 2024 innovations

cTrader’s focus for the next year would be on developing new tools for Introducing Brokers (IBs) and partners, particularly those related to algorithmic (algo) trading, the company’s head of growth told FinanceFeed in an exclusive interview at the Finance Magnates London Summit 2023.

Digital Assets

Grayscale’s Ethereum ETF stalls: SEC extends review to January 2024

The United States Securities and Exchange Commission (SEC) has extended the evaluation period for Grayscale’s proposed Ethereum spot ETF.

Institutional FX

BMLL completes China equity data offering: Shanghai, Shenzhen, and Hong Kong

“Demand for China data has never been higher. This is set against a general industry trend of increased market participant sophistication, and an increasing demand for quality historic market data to understand market microstructure and venue behaviour. Market participants need to get the full picture of market quality, liquidity and order book dynamics to ultimately make better informed decisions on the markets they trade and the venues they run.”

<