Science & Tech · Cybersecurity · 4 hrs ago
Cyberattack led to unintended trades in seven Iwai Cosmo accounts
Japan's Iwai Cosmo Securities said a cyberattack hit its trading management system on October 14.
Orders customers had not intended were placed in seven accounts, and five trades were completed.
The company contacted the affected customers and restored their accounts to their pre-trade state, so they faced no cost.
The incident came alongside a leak of names and email addresses linked to 4,975 customers, after 364 additional cases were found.
The company said the leaked information did not include trading PINs and was not used to carry out the trades.
It said the cause of the attack had been identified and fixed, and its online trading system was operating normally.
Iwai Cosmo and its system provider, TradeWorks, said they would continue checks and monitoring and strengthen security to prevent a repeat.
IwaiCosmo Securities said unauthorized orders were placed through seven customer accounts, with trades completed in five.
The brokerage said the orders followed unauthorized access to the online trading system operated and maintained by Trade Works.
The affected accounts were restored to their pre-trade state, and the brokerage said customers incurred no burden.
Names and email addresses of 4,975 customers were leaked, but trading passwords were not included.
IwaiCosmo said the leaked personal information was not used to carry out the unauthorized trades.
- Who
- IwaiCosmo Securities customers were affected. Trade Works operates and maintains the brokerage’s online trading system.
- What
- Unauthorized orders were placed through seven accounts, and trades were completed in five.
- When
- The unauthorized access and trades occurred on October 14. IwaiCosmo announced the unauthorized trades on October 20.
- Where
- In customer accounts at IwaiCosmo Securities, an Osaka-based brokerage in Japan.
- Why
- The trades followed unauthorized access to the online trading system. The sources do not state the motive.
This story does not have two clearly opposing sides.
Trade Works’ system was hit by unauthorized access, and unauthorized trades occurred in customer accounts.
IwaiCosmo disclosed the personal information leak, initially reporting 4,611 affected people.
IwaiCosmo announced the unauthorized trades and said the number of people whose information was leaked had risen to 4,975.
- Affected accounts
- 7 customer accounts
- Completed trades
- 5 accounts
- Leaked information
- Names and email addresses of 4,975 customers
- Trading passwords
- Not included in the leaked information
- System operator
- Trade Works Co.
2 sources
What people are saying
unintended trades