[ad_1]
“ION Readies Customers for Return After Cyber Attack Recovery”
(Bloomberg) – ION Trading UK, the tech company hit by a cyberattack last week, has told some clients that it has rebuilt relevant systems and will restart them after conducting independent security tests.
Most read by Bloomberg
ION said some systems could be available Monday, according to people familiar with the matter. The process of getting customers back online will be staggered and expected to take several days, said the people, who asked not to be identified to discuss private information. Cybersecurity firm CrowdStrike was involved in testing the systems, two of the people said.
One affected brokerage firm, StoneX Financial Ltd., said it expects to receive a newly built system on Monday, according to a note to customers viewed by Bloomberg.
“As we work to return to full service, it may take longer than usual to process some payment and transfer requests due to the manual processes involved,” StoneX told customers Monday. “We appreciate your continued patience as we work out solutions and advance ION on its recovery plan.”
A StoneX representative declined to comment.
reactivate systems
Last week’s attack on ION has turned derivatives trading upside down around the world, forcing a number of banks and brokers to manually clear certain trades and drawing the attention of government agencies and regulators.
Lockbit, the hacking group behind the attack, said Friday that a ransom had been paid and that the gang had provided a decryption key to unlock the compromised computers. ION has declined to comment on the ransom.
ION has worked with two “template clients” to reactivate a key trade processing system called XTP Core, and it will move forward with other clients pending validation by CrowdStrike, ION said in a Feb. 6 client update received from Bloomberg .
Six out of 33 key recovery steps have been fully completed and the rest are 79% to 95% complete, ION informed customers.
Like ION, Bloomberg LP, the parent company of Bloomberg News, provides financial institutions with execution management solutions, electronic market connectivity and trading tools.
(Updates with information about StoneX from the third paragraph.)
Most Read by Bloomberg Businessweek
©2023 Bloomberg LP
[ad_2]
Don’t miss interesting posts on Famousbio
