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A wave of unauthorised trades has rocked Bursa Malaysia, raising serious concerns about the cybersecurity of online trading platforms used by investors across the country
According to The Edge Malaysia, several brokers alerted the exchange and the Securities Commission to suspicious activity, triggering an ongoing investigation into what appears to be a coordinated cyberattack.
Early indications suggest the breach originated from foreign IP addresses, targeting brokerage firm systems rather than investor login credentials.
What's especially troubling is that the compromised accounts lacked direct online trading access, which normally requires broker-mediated transactions. This points to potential vulnerabilities buried deeper within the back-end infrastructure.
Image via NSTP/ASWADI ALIAS
Shares of Bina Puri Holdings and Pos Malaysia were among those manipulated, with prices surging sharply in a matter of minutes
Bina Puri's warrant B alone saw a 61% spike, generating RM10 million in potential profits at its peak.
Meanwhile, Hong Kong-linked structured warrants also registered unusually high trading volumes.
This isn't the first sign of trouble — industry insiders say a similar, though smaller, incident occurred just six weeks ago, potentially serving as a dry run.
Image via New Straits Times
Theories are swirling about the possibility of profit-sharing arrangements between cybercriminals and market players
A case in Japan saw hijacked trading accounts used to artificially inflate penny stocks — a parallel that is difficult to ignore.
With N2N Connect and Excel Force MSC powering much of the local trading infrastructure, pressure is mounting for urgent action.
N2N has issued security advisories, recommending geo-blocking for foreign IPs, among other measures.
