Cyber-attack on CSDL

Central Depository Services (India) Ltd or CDSL detected a cyber attack on Friday, November 18,2022) ) detected malware in few of its internal machines, delaying settlement activities .It informed the stock exchanges .

CDSL is the country’s largest securities depository institution that manages Demat or stock broking accounts for millions of stock market investors.

CDSL, in a press release, said, “As a matter of abundant caution, the Company immediately isolated the machines and disconnected itself from other constituents of the capital market.As per initial findings, there is no reason to believe that any confidential information or the investor data has been compromised."

The central depository said that it has isolated the machines and has disconnected itself from other constituents of the capital market. A malware attack is a cyberattack where malicious software executes unauthorised actions on the victim's system. Malicious software encompasses many specific attacks, such as ransomware, spyware, command and control, and more.
 

Brokers said services such as pay-in, pay-out, pledge, or unpledged securities for margin were down due to system failure at the CDSL NSE -0.20 %. However, trading was not affected, they added.

The CDSL team reported the incident to the relevant authorities and is working with its cyber security advisors to analyse the impact.