Security News > 2021 > May > US Exchanges Offer a Rich Potential Target for Hackers
Cyberattacks have long been seen as a threat to financial markets, but worries are becoming even more acute following a US pipeline hack that set off a public panic and forced the company to pay a ransom.
Financial exchanges that manage daily transactions of tens or hundreds of billions of dollars are an appealing target for hackers.
Major stock exchanges insist they are on top of the issue, but remain mum about what steps they are taking to safeguard their networks.
New York Stock Exchange President Stacey Cunningham told CNBC the exchange is "Constantly working not only with our own teams but with others in the market, with the regulators and other exchanges on ensuring that markets are secure."
Recent history shows the hacking risk is far from a theoretical problem at financial exchanges.
Such a calamity has yet to befall an exchange or major financial firm in the United States.