IwaiCosmo Securities Customers Hit by Unauthorized Trades After Cyberattack
The brokerage said 4,975 customers had names and email addresses exposed, and seven accounts saw unauthorized orders after the attack.
- On Tuesday, Osaka-based IwaiCosmo Securities announced that a cyberattack on its online trading system allowed unauthorized trades in customer accounts and exposed personal data of 4,975 people.
- Tokyo-Based Trade Works, which maintains the system, suffered unauthorized access on Wednesday, October 14, resulting in unauthorized orders placed in seven customer accounts.
- While 4,975 names and email addresses were leaked, IwaiCosmo confirmed trading passwords were not compromised and restored the seven affected accounts to their pre-trading state.
- Kobe University cybersecurity expert Masakatsu Morii called the incident "extremely concerning," noting that penetrating a brokerage's core system represents a "fundamentally different type of attack."
- This incident, believed to be the first of its kind in Japan's financial industry, occurs amid a recent surge in cyberattacks affecting the nation.
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Unauthorized trades triggered at IwaiCosmo by cyberattack | The Asahi Shimbun Asia & Japan Watch
Osaka-based brokerage IwaiCosmo Securities Co. announced on Oct. 20 that a cyberattack on its online trading system allowed unauthorized trades in customer accounts and the personal data leakage of nearly 5,000 people.
Fraudulent trading across 5 accounts… Kyodo: "Presumed system takeover, not account hijacking" Correspondent Cho Seong-mi = An online trading system at a Japanese securities firm was subjected to a cyberattack appearing to exploit artificial intelligence (AI), resulting in unintended stock trading by customers
IwaiCosmo Securities customers hit by unauthorized trades after cyberattack
IwaiCosmo Securities Co. said Tuesday some of its customers fell victim to unauthorized trades, with the cases believed to be the first in Japan's financial industry amid a recent spate of cyberattacks.
The online trading system of Iwai Cosmo Securities, a securities firm based in Osaka, Japan, was subjected to a cyberattack, resulting in unauthorized stock trading on five customer accounts. Iwai Cosmo Securities stated that the server of TradeWorks, to which it entrusted the operation of its online trading system, was attacked, leading to unintended stock trading orders being placed on seven customer accounts, with transactions actually compl…
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