PrimeXM Withstands Hosted MT4/5 Server Ransomware Attack

Fazzaco learned that the FX trading industry technology provider PrimeXM has been under a hosted MT4/5 server ransomware attack last week, which was discovered on Thursday the 9th of December 2021.

Fortunately, the company has confirmed that less than 3% of Hosted Clients experienced any impact to their trading operations, and that based on the evidence there was no data breach or backdoor present in the malware. And the security of PrimeXM's internal systems, including XCore trading infrastructure, was not compromised or suffered any interruptions at any point.

Specifically, in the process of fending off the attack, PrimeXM identified that the attack could only disrupt client's live trading by encrypting essential files if the MT4/5 servers were stopped or during restart. It advised clients not to restart their MT4/5 servers and to verify their failover infrastructure was operational.

Besides, PrimeXM has engaged with various third party cybersecurity firms, including AVAST, QSecure, Deloitte Cyber Forensics, and Forensic and Malware Analyst, etc.

"We will continue to provide updates as we receive them and we will always remain transparent. Our teams are available around the clock to provide any assistance needed. Finally, we want to sincerely apologize for any inconvenience this event might have caused to our customers. We will continue to increase inhouse expertise and work closely with our Cybersecurity partners to improve the security of our hosted systems," said the company.