Trillions of dong were stuck unable to be traded when VNDirect was attacked. This shows the security "vulnerability" of financial services. What should investors do?
“I can't trade this morning and I only trade at VNDirect. I had to set up a new account at another securities company and monitor the information there. The market is "hot" like that and I can't do anything, which makes me very impatient and frustrated," Ms. Tra Giang (37 years old, Dong Da District, Hanoi) shared.
Not the first time "attacked"
Accordingly, it was noted that the website and application (app) of VNDirect Securities Company (VND, HOSE) were in an error state, inaccessible, customers only saw a notice of the problem with an apology to from VNDirect.
The entire VNDirect system is still inaccessible (Photo: VNDirect Website)
It is known that from 10:24 a.m. on Sunday (March 3) to the present time, VNDirect's entire system has been attacked by an international organization, resulting in the entire VNDirect trading platform being temporarily inaccessible. Okay. Currently, the company's technology team has made every effort to restore, but due to the very large data infrastructure, it takes time to connect.
Previously, VNDirect had encountered many other similar problems. In April 4, during the trading session, investors were unable to log in to the company's website because the domain name and other extension pages had expired. Or in November 2022 and April 11, the company also had problems logging in transactions due to overload.
Recently, "child" websites related to VNDirect: Postal Insurance Corporation, websites of IPA Investment Group and IPAAM were also inaccessible and reported being attacked.
How are the markets and investors affected?
Many investors expressed confusion and worry when they were unclear about the level of security and whether the amount of money and assets on the floor would have any impact.
Responding to this issue, the company said that all customer information and assets are guaranteed to be safe and unaffected.
However, this incident still puts investors at risk of being severely affected psychologically and on assets on the floor.
Ms. Hai Yen (29 years old, in Thai Binh) sighed in frustration when she could not trade, because she planned to disburse the shares she was holding this morning to take profits, but as of now, the market is "shaking." ” after a long series of increases, causing the holding stock to no longer be at the ideal selling point.
VN-Index "plunged" early in the week after the incident from VNDirect (Source: SSI iBoard)
VNDirect is known as one of the TOP3 securities companies with up to 7% market share on the exchange.
Therefore, this incident may cause damage to assets and investor profits, increase unfair competition between securities companies and significantly affect the entire market when a large amount of cash flow is not transferred. moving in accordance with the buying and selling needs of investors, Associate Professor Dr. Nguyen Huu Huan, Head of the Department of Financial Markets, Ho Chi Minh City University of Economics, commented.
What should be done to prevent and protect investors' rights?
According to Associate Professor, Dr. Nguyen Huu Huan, financial services are inherently more complex than normal services and need to ensure continuous operation, even when attacked. However, reality shows that securities companies still do not pay attention to security.
"This incident at VNDirect is something no one wants and cannot blame anyone, but from here on, it is necessary to take a serious look and fix security holes in financial services," Associate Professor, Dr. Nguyen Huu Huan emphasized.
This greatly affects the assets and profits of investors, because investors are inherently in a passive position. Even when trading at any securities company, there is still a risk of being attacked and when the trading website "collapses", they do not What can you do?
Therefore, to limit similar risks, Mr. Nguyen Huu Huan proposed some recommendations for investors:
– Investors should divide their holdings and shares Transaction through multiple accounts at other securities companies together.
– Investors You should not leave money in your account, only when necessary for buying and selling transactions Only then will the money be transferred to avoid the situation where securities companies misappropriate capital. Furthermore, banks are more secure and have deposit insurance, while securities companies currently do not have insurance.
Besides, in order to ensure investors' rights, healthy competition and continuous operation of financial services, management side like the Securities Commission and the Stock Exchange need to intervene and have solutions to deal with the worst possible scenarios. Still Securities company side, need to promote security, have preventive solutions for customers,...
