On Monday, the website for the Moscow Stock Exchange was offline and therefore inaccessible. The Ukraine IT Army, a crowdsourced community of hackers endorsed by Kyiv officials, took responsibility for the outage in a message posted to Telegram. The group claimed that it took just give minutes to take the site offline. NetBlocks, a global internet connectivity tracking company confirmed that the site was down, however, the organization does not have the visibility to determine the root cause of the incident. Last week Ukraine’s deputy prime minister announced the formation of the IT Army, and published a link to a list of prominent Russian websites that the hackers could look to attack.

Included on the list were the websites of 31 Russian businesses and state organizations such as energy company Gazprom, oil producer Lukoil, and several banks. Although the central bank of Russia did not immediately respond to the outage, it confirmed that the Moscow Exchange would remain closed for the duration of the day. London-listed shares of Russian companies suffered after new sanctions were imposed this week, with some Russian companies dropping by as much as 70%. In addition, Russia’s largest lender Sherbank was knocked offline in an incident celebrated by Fedorov.

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