Recent history is instructive. Hear the then-Director of the National Security Agency, Adm. Michael Rogers:
“At the moment, most of the [malicious cyber activity] has been theft,” Rogers said. “But what if someone gets in the system and starts manipulating and changing data, to the point where now as an operator, you no longer believe what you’re seeing in your system?”
As we see the historically low volumes of trading in markets ebullient over seemingly positive economic data, old hands in successful investing sit on cash piles, signaling possible doubt about the bullish mania in the markets.
It’s the kind of hack that can send perilous repercussions reverberating through the real world. In 2013, perhaps the most high-profile data manipulation incident to date created a $136-billion free-fall on Wall Street.
Worth a reminder for those who see the economic warfare component motivating autocracies today.