Meitav Trade shares tumble after weekend cyber breach targeting client data
Meitav Trade’s stock fell about 5% on the Tel Aviv exchange after the broker disclosed a cyberattack that tried to steal personal and banking information from clients.
On September 29, Meitav Trade’s shares slid roughly 5% in Tel Aviv trading after the firm reported a weekend cyberattack aimed at extracting client personal and banking data. Regulators learned that the perpetrators leveraged a flaw in a third-party API, prompting about 3,000 customers to receive unexpected one-time password verification texts on September 26. An emergency audit with the firm’s external systems provider uncovered the exposed API and halted attempts to alter OTP routing, averting any breach of trading systems, passwords or active portfolios.
While no financial assets were compromised, the breach highlighted serious infrastructural weaknesses at Israel’s biggest retail trading platform, which manages ILS 46bn across 130,000 accounts. The episode follows a March 2025 trading blackout that also exposed technical fragilities at Meitav and rival IBI. Analysts warn that lingering security doubts could drive clients toward traditional banks, which still hold the majority of Israeli investment assets.
Why it matters
The breach exposes critical cybersecurity gaps at Israel's leading retail broker, potentially shifting investors toward more trusted banking institutions.
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