Recently, GTBank’s website was offline from Tuesday night until the early hours of Thursday, prompting speculation about a possible cybersecurity attack. However, insiders suggest the issue was less sinister but equally important.
Early reports from various publications linked GTBank’s website downtime to a cybersecurity breach. However, reports show that the incident resulted from a problem with the website’s domain name system (DNS) configuration. A Chief Technology Officer (CTO) at a leading Nigerian fintech firm disclosed that GTBank faced issues with its domain name registration. The CTO suggested that the bank might have needed to make changes or move to a different domain name service. The CTO, requesting anonymity, shed light on the importance of maintaining proper domain registration.
Lapses in renewing a company’s domain name can have far-reaching implications. A web developer explained that if GTBank has patented its website name, it can report the incident to the domain host and, after a few processes, reclaim the site. However, such resolutions are not instantaneous and can take time, as the developer noted.
GTBank’s incident isn’t isolated; even tech giants have experienced similar issues. In 2015, Google missed renewing its ownership of “google.com,” only to have a former employee buy it. Though quickly reversed due to Google’s ownership of the domain service provider, the event underscores the critical nature of domain management. Similarly, in 2003, Microsoft forgot to renew the hotmail.co.uk domain.
As of this publication, GTBank’s website accessibility varies among customers, likely due to DNS propagation. This process involves the time it takes for domain record changes to take effect across all servers. Additionally, a security feature called HTTP Strict Transport Security (HSTS) could complicate matters, as it requires browsers to connect to the website only over a secure, encrypted connection.
While the incident might have sparked cybersecurity concerns, the underlying cause points to a more mundane but equally crucial aspect of digital operations. Financial institutions and businesses alike can learn from GTBank’s experience, reinforcing the need for diligent oversight of digital assets.