After account verification, will VNDirect customers be able to trade normally again soon?

According to the latest announcement from VNDirect this afternoon, March 27th, the company has completed phase 1 of its system reopening plan. Currently, customers with accounts at VNDirect can check their balances on the My Account system at: https://myaccount.vndirect.com.vn/bao-cao/bao-cao-tai-san/tong-quan-tai-san .

Sau tra cứu tài khoản, khách hàng VNDirect sớm giao dịch được bình thường?- Ảnh 1. — VNDirect's latest announcement regarding the resolution of the website display issue.

VNDirect recommends that customers change their passwords immediately after logging into the system. The company also notes that the system has just been restored and may experience a large volume of customer traffic, potentially requiring a page reload to access.

"Due to the system having just been restored and potentially experiencing a large volume of customer traffic, if any errors occur, we kindly ask for your understanding and patience while waiting for the page to reload at a later time," the announcement from VNDirect stated.

VNDirect stated that it has restored the system and is conducting a review and assessment to ensure absolute safety and security for customers transacting with the company.

The system reopening roadmap will consist of four phases. Phase 1 will include a system allowing users to check the status and information of their My Account accounts.

In phase 2, VNDirect will reopen its currency trading, underlying securities trading, and derivatives trading systems on an open-traded basis with the stock exchange. In phase 3, other financial products will resume operation. Finally, the company will restore all other features.

Speaking with Thanh Nien newspaper this afternoon, a cybersecurity expert said that, at this point, VNDirect's success in enabling customers to check their balances and change their passwords is a commendable effort. For customers, the most important thing is to change their passwords quickly.

The VNDirect incident is believed to be a software-related vulnerability, meaning it's a "zero-day" vulnerability. This is a vulnerability that the manufacturer was unaware of. Hackers somehow discovered and exploited it.

"Rebuilding the system isn't difficult for the operations team; the important thing is to find the hacker's access point after rebuilding and block it. With a 'zero-day' vulnerability, they essentially can't patch it themselves and have to wait for the manufacturer to update. In this situation, I believe VNDirect will choose to isolate the partitions they know have 'zero-day' vulnerabilities."

Regarding phase 4, VNDirect announced that they will unlock all features, so it seems they have now identified the target market," the expert commented.

However, according to this expert, one should not be complacent. Completely resolving the issue, even if it requires replacing the entire system architecture, especially the backup system, will still take a considerable amount of time, possibly months.

The expert noted: "Customers need to be patient and cooperative so that VNDirect can focus on resolving the issue."

Regarding the VNDirect incident, Mr. Vu Ngoc Son, Director of Technology at the Vietnam National Cybersecurity Technology Company, stated that in this case, the backup system was also attacked, not just the main system.

When launching a service, any organization will naturally have to consider backup options; however, at that time, they may not have fully considered all possibilities that could lead to simultaneous attacks on the backup system.

"This could be considered a double disaster. In this case, I think the recovery time will be long because the backup system has been attacked," Mr. Son emphasized.

According to Mr. Son, the systems of securities companies and financial institutions all have investments and operating procedures that are on par with the general level of cybersecurity in Vietnam.

"Clearly, securities companies, despite having better technological equipment and security conditions than the average, still experience incidents. This highlights the need for securities companies and financial institutions to have a high level of cybersecurity to ensure safety," observed the Chief Technology Officer of the Vietnam National Cybersecurity Technology Company.

Previously, in an interview with the press on March 26, Mr. Nguyen Vu Long, General Director of VNDirect, stated that the company's system had been attacked by a professional hacking group, encrypting all of the company's data.

"We are beginning the process of restoring the system so that we can reconnect and resume transactions. It is expected to take some more time because this is a relatively complex form of attack that requires time," Mr. Long said.

According to VNDirect, the online trading system incident occurred at 10:00 AM on March 24th at the Fornix Duy Tan Data Center. The system was attacked by an international hacker organization. The virtualization infrastructure was compromised, resulting in the entire trading platform being temporarily inaccessible.

Late in the morning of March 25, the Hanoi Stock Exchange (HNX) announced the temporary disconnection of VNDirect's trading connection to the HNX from March 25 until VNDirect completely resolves the issue.

On the afternoon of March 25, the Ho Chi Minh City Stock Exchange (HOSE) also announced that it had temporarily disconnected VNDirect's trading from HOSE starting March 25 until the company completely resolves the issue.

Late on March 25th, the State Securities Commission issued a warning regarding the security of online securities trading systems.

The State Securities Commission requires the company to ensure that its information technology system and backup database operate safely and continuously in accordance with the provisions of Clause 10, Article 89 of the 2019 Securities Law...

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