Russian hacker groups briefly disrupted Taiwanese financial platforms, including the stock exchange and Mega Financial Holding Co.’s website, revealing the island’s susceptibility to foreign cyberattacks. The groups, identified as “NoName057” and “RipperSec” on Telegram, launched a Distributed Denial of Service (DDoS) attack on the targeted websites, leading to unstable connections for the platforms on Thursday afternoon, according to the Ministry of Digital Affairs.
During the cyberattack, the Taiwan Stock Exchange noticed an influx of web queries from overseas IP addresses, with the volume being several times greater than normal, as reported by the bourse in a message to Bloomberg News.
Despite the attack, government websites and trading operations functioned normally on Friday. DDoS attacks aim to overwhelm systems rather than extract valuable information. The stock exchange successfully restored normal operations within half an hour on Thursday. Nevertheless, the incident highlighted Taiwan’s potential vulnerability in the cybersecurity domain, particularly significant given its status as the world’s largest producer of advanced semiconductors and a potential flashpoint in US-China tensions.
The Ministry of Digital Affairs stated it is gathering the latest information regarding the attacks from NoName057 and RipperSec and will take necessary measures. Taiwan’s cabinet office also condemned the cyber-attackers for causing disturbances not only on the island but also across the region.
The Digital Ministry confirmed earlier reports, including those by Liberty Times, indicating that a Russian group had claimed responsibility on Telegram, as analyzed by researchers from Radware. NoName057 stated on their Telegram channel that Taiwan was targeted due to comments made by President Lai Ching-te suggesting that if China claims Taiwan as its territory, Beijing should similarly reclaim some land from Russia.
Radware representatives did not respond to requests for comment. Taiwan has experienced a rise in cyberattacks from foreign entities as its strategic importance increases. In August, cybersecurity researchers at Cisco Systems Inc. reported that a hacking group linked to the Chinese government had stolen passwords and documents from a Taiwanese government-affiliated research center specializing in computing.
This series of attacks underscores the cybersecurity threats faced by Taiwan, an island that has been a focal point of rising tensions between the US and China. Beijing asserts that Taiwan is part of its territory and has vowed to bring it under control.
