ADFS
AMERICAN DEFENSE SYS INC
stock OTC

SEBI has fined CDSL ₹1 crore over the 2022 malware attack. I still remember the chaos in November 2022. Pledges were delayed. Settlements were delayed. Transfers weren't going through. Like many others, I thought it was one of those unfortunate incidents that nobody could have prevented.
According to SEBI, the attackers had already gained access to CDSL's systems in November 2021 and remained there for almost a year. An internet-facing ADFS server wasn't even classified as a critical system. It wasn't covered under vulnerability testing, privileged access management, or security monitoring. There was an administrator account with a password set to never expire, no two-factor authentication, and multiple security alerts that weren't acted upon. These are basic cybersecurity controls.
Frustrating thing is today, every broker is busy talking about AI, instant onboarding, smarter charts, and the next big feature. Meanwhile, the backbone of our capital markets is getting pulled up for failing on the fundamentals.
SEBI itself says the impact was largely due to failures in implementing basic cybersecurity controls rather than the sophistication of the attack.
Shame on you, CDSL. Millions of investors trust this infrastructure every single day. The least they should expect is that the basics are never compromised.

SEBI has fined CDSL ₹1 crore over the 2022 malware attack. I still remember the chaos in November 2022. Pledges were delayed. Settlements were delayed. Transfers weren't going through. Like many others, I thought it was one of those unfortunate incidents that nobody could have prevented.
According to SEBI, the attackers had already gained access to CDSL's systems in November 2021 and remained there for almost a year. An internet-facing ADFS server wasn't even classified as a critical system. It wasn't covered under vulnerability testing, privileged access management, or security monitoring. There was an administrator account with a password set to never expire, no two-factor authentication, and multiple security alerts that weren't acted upon. These are basic cybersecurity controls.
Frustrating thing is today, every broker is busy talking about AI, instant onboarding, smarter charts, and the next big feature. Meanwhile, the backbone of our capital markets is getting pulled up for failing on the fundamentals.
SEBI itself says the impact was largely due to failures in implementing basic cybersecurity controls rather than the sophistication of the attack.
Shame on you, CDSL. Millions of investors trust this infrastructure every single day. The least they should expect is that the basics are never compromised.