Cyber Attack Ensnares $4.3 Trillion Muni Market’s Key Site
A ransomware attack has hit the main platform for distributing municipal bond documents, affecting the $4.3 trillion muni market. The attack has disrupted the ability of state and local borrowers to post debt documents on the platform, which serves as a key hub for the municipal bond market. The platform's operator, the Municipal Securities Rulemaking Board (MSRB), has acknowledged the attack and stated that it is working to restore normal operations. The MSRB has also advised market participants to use alternative channels to access and disseminate municipal bond information until the issue is resolved. The incident highlights the vulnerability of critical financial infrastructure to cyber threats and the potential impact on the broader municipal bond market. Authorities are investigating the attack, and market participants are urged to exercise caution and monitor developments closely.
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