Vietnam's State Securities Commission (SSC) has assured that the recent cyberattack on VNDirect, the country's third-largest brokerage by transaction volume, poses no contagion risk to other financial institutions. This comes after VNDirect experienced a suspension from the trading system following the cyberattack over the past weekend.
Despite the attack, which led to VNDirect being disconnected from the trading system since Monday, the SSC's vice chairman, Pham Hong Son, confirmed that no other brokers were affected. VNDirect, which has yet to announce when trading will resume, also reassured that the attack did not impact customer assets or data, although its shares have dropped nearly 4% since the incident.
The SSC has decided against taking further action to mitigate the attack's impact, suggesting that investors can continue trading through other securities firms. The cyberattack, attributed to an international organization, has temporarily affected transaction volumes and the benchmark index on the Ho Chi Minh City exchange but has not led to wider concerns within the Vietnamese stock market.
Mirae Asset Securities noted that despite some stocks performing well, the cyberattack on VNDirect has overshadowed market sentiment, highlighting the growing concerns over cybersecurity in the financial sector.
