The pro-Russian group Killnet along with other hacker groups claimed to have targeted the London Metal Exchange (LME) with a cyber attack. The London Metal Exchange cyber attack has not been confirmed by the organization.
The website of LME was accessible at the time of writing. However, the screenshot of the targeted website on the Telegram page of Killnet reflected otherwise –
London Metal Exchange cyber attack
The pro-Russian hackers posted Thethe above-shown screenshot of the LME website post the LME cyber attack. The Cyber Express emailed the LME for comments about London Metal Exchange cyber attack claims. We will update this report based on their response.
The translated message on the Telegram page of the Killnet group read that the London Metal Exchange cyber attack was a joint event.
“Participants of the event against European invaders (were) Anonymous Sudan, Krypton Networks, Killnet Reserves, and Power Proof Kibernetova,” the Telegram message read.
Killnet wrote that all the trade happens over the internet. And if they disrupt the internet, there won’t be any trade.
“It’s nice when the network destroyer knows his place!,” Killnet wrote suggesting they were superior enough to breach secure networks.
The LME is in the eye of a heated debate over the proposed ban on the Ural Mining and Metallurgical Company (“UMMC”) and Joint Stock Company Chelyabinsk Zinc Plant (“Chelyabinsk”) from trading on the platform.
On 20 July 2023, the US government introduced sanctions prohibiting US persons from dealing with the assets and “other economic interests of” UMMC.
However, the LME decided to refrain from any further action on UMMC and Chelyabinsk produced metal, despite mounting pressure.
Killnet to target nations with a stronger alliance
Like the groups teamed up for the alleged London Metal Exchange cyber attack, it is speculated that the Killnet hacker group is teaming up to launch cyber attacks with increased power.
The group known for DoS and DDoS attacks also announced a DDoS service in July this year on their Telegram page. In a forwarded message from Killnet, KillMilk wrote that they will accept orders.
However, they also confirmed that they do not work in Russia and the CIS.
The Commonwealth of Independent States (CIS) treaty was created similar to the European Convention on Human Rights to offer a forum for discussing issues for member states.
Among the full member states of the CIS are Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, etc.
KillMilk, is a senior member of the Killnet group.
London Metal Exchange cyber attack and the geopolitics of metal trade
London Metal Exchange is among the largest world markets in standardized forward contracts and options on base metals.
They also offer ferrous metals and precious metals among others. They are a commodities exchange that deals in aluminum, copper, nickel, zinc, lead, etc.
In November 2022, the LME announced that it will not ban the Russian metal trade.
Russia is a large-scale producer of aluminium and nickel and the companies involved in the production were not issued sanctions due to the ongoing Russia and Ukraine war.
“The LME does not propose at this time to prohibit the warranting of new Russian metal nor to impose thresholds or limits to the amount of Russian stock permitted in LME warehouses,” the LME said in a statement.”
After mulling over the repercussions, the LME decided to halt the Russian metals in its U.S. warehouses in February this year. The US government introduced sanctions on July 20, 2023, which the LME decided to follow.
The recent debates over trading with Russia saw Mario Conserva, the Secretary General of the Federation of Aluminium Consumers in Europe (FACE) voice their opinion in a letter.
Mario argued against the ban and said, “These calls for bans and sanctions seem one more oligopolistic attempt to easily eliminate a competitor with nonmarket practices and to turn Europe into a captive market.”