IOActive Discloses More Vulnerabilities in Popular Stock Trading Applications at Black Hat USA 2018

LAS VEGAS, Aug. 7, 2018 /PRNewswire/ -- IOActive, Inc., the worldwide leader in research-driven security services, today announced new vulnerabilities the research team has discovered in mobile, desktop and web stock trading applications. IOActive Senior Security Consultant, Alejandro Hernandez, will be presenting his vulnerability findings at Black Hat Las Vegas on Thursday, August 9th at 11am PT in his talk, "Are You Trading Stocks Securely? Exposing Security Flaws in Trading Technologies."

His research expands upon his original 2017 research on mobile trading applications. At Black Hat, Hernandez will discuss how he tested several stock trading and cryptocurrency trading technologies including 16 desktop applications, 30 websites, and 34 mobile applications and discovered major vulnerabilities that can allow malicious actors to gain access to a user's personal banking information through desktop and web applications, steal money and gain insights into net worth and investment strategies.

Hernandez commented, "I published my original research nearly a year ago, and it's deeply concerning that some of the same vulnerabilities have still not been fixed."

Similar to his research last year, Hernandez found that the usernames and passwords can easily be stolen from stock trading networks. This year, he found many vulnerabilities including unencrypted authentication, communications, passwords and trading data, and remote Denial of Service (DoS) that can leave applications useless. In addition, he found issues with weak password policies, hardcoded secrets and poor session management.

"Imagine a stock trader in a coffee shop, using public Wi-Fi. An attacker would be able to easily perform a man-in-the-middle attack and identify or modify the network traffic that is unencrypted," says Hernandez. "For example, the attacker could see the username and password of the trader's account and later login through a web browser, link his or her bank account, sell the stocks at market price to liquidate the investments, transfer the money, remove the added bank account and log out."

"Alejandro's continued research and discovery of major flaws in stock trading technologies will hopefully be a wakeup call to the financial industry," said Jennifer Steffens, CEO of IOActive. "They need to implement the strong security controls they already have in place for banking applications and follow industry best practices to properly develop mobile, desktop and web applications, and continuously scan them for vulnerabilities."

All of the vendors impacted by these stock trading vulnerabilities have been notified. IOActive cannot confirm whether or not they are fixed at this point in time.

To view a full copy of Alejandro's report, please visit: https://ioactive.com/wp-content/uploads/2018/08/Are-You-Trading-Stocks-Securely-Exposing-Security-Flaws-in-Trading-Technologies.pdf

About IOActive
IOActive is the industry's only research-driven, high-end information security services firm with a proven history of better securing our customers through real-world scenarios created by our security experts. Our world-renowned consulting and research teams deliver a portfolio of specialist security services ranging from security advising to penetration testing and application code assessment to chip reverse engineering across multiple industries. IOActive is the only security services firm that has a dedicated practice focusing on Smart Cities and the transportation and technology that connects them. Global 1000 companies across every industry trust IOActive with their most critical and sensitive security issues. Founded in 1998, IOActive is headquartered in Seattle, US, with global operations through the Americas, EMEA, and Asia Pac regions. Visit www.ioactive.com for more information. Read the IOActive Labs Research Blog: http://blog.ioactive.com. Follow IOActive on Twitter: http://twitter.com/ioactive.

SOURCE IOActive, Inc.