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Nine Men Facing Federal Charges Over Alleged Hacking And Insider Trading Scheme
Federal officials say the hackers stole confidential corporate press releases and used the information to make more than $100 million.
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Nine people were formally charged Tuesday in an insider trading scheme in which rogue traders allegedly teamed up with hackers to steal corporate information from financial newswire agencies and generate more than $100 million in illegal profits. The case, officials said, exposed the vulnerabilities of digital security measures for financial markets.
In two federal indictments unsealed Tuesday in New Jersey and the Eastern District of New York, Ukrainian hackers allegedly breached the networks of Marketwired, PR Newswire Association, and Business Wire to steal more than 150,000 confidential press releases from publicly-traded companies before their release. The information was then allegedly shared with traders in Russia, Ukraine, Malta, Cyprus, and France, as well as three U.S. states: Georgia, New York, and Pennsylvania.
“This international scheme is unprecedented in terms of the scope of the hacking, the number of traders, the number of securities traded and profits generated,” said Securities and Exchange Commission Chair Mary Jo White.
Authorities alleged the hackers targeted companies from a variety of industries, including Bank of America, Boeing, Delta, Dreamworks Animation, Hewlett Packard, Home Depot, Caterpillar, Panera Bread, Viacom, and Netflix.
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Nine people were formally charged Tuesday in an insider trading scheme in which rogue traders allegedly teamed up with hackers to steal corporate information from financial newswire agencies and generate more than $100 million in illegal profits. The case, officials said, exposed the vulnerabilities of digital security measures for financial markets.
In two federal indictments unsealed Tuesday in New Jersey and the Eastern District of New York, Ukrainian hackers allegedly breached the networks of Marketwired, PR Newswire Association, and Business Wire to steal more than 150,000 confidential press releases from publicly-traded companies before their release. The information was then allegedly shared with traders in Russia, Ukraine, Malta, Cyprus, and France, as well as three U.S. states: Georgia, New York, and Pennsylvania.
“This international scheme is unprecedented in terms of the scope of the hacking, the number of traders, the number of securities traded and profits generated,” said Securities and Exchange Commission Chair Mary Jo White.
Authorities alleged the hackers targeted companies from a variety of industries, including Bank of America, Boeing, Delta, Dreamworks Animation, Hewlett Packard, Home Depot, Caterpillar, Panera Bread, Viacom, and Netflix.
Read More on Buzzfeed.
1 replies
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They would apply for a job at the NSA or one of the many contracting firms that handles NSA data. 
