$100M insider trading hack

[jos]

Hackers allegedly broke into the computer networks of press release distribution companies such as PRNewswire, BusinessWire and Marketwired to access nonpublic information and use it to illegal advantage in their stock trading. Ukraine-based hackers Ivan Turchynov and Oleksandr Ieremenko allegedly hacked into the computer network of the newswires, stealing information from more than 100,000 press releases, many of which discussed corporate earnings. Turchynov and Iremenko worked "in concert" with a network of traders located in the U.S., Russia, Ukraine and France who paid them either a flat fee or a percentage of their illegal profits. The hacker defendants stole the press releases and passed them to the trader defendants in the window of time between when the press releases were uploaded to the newswire service's system and when the press releases were publicly issued

 

 

This is huge, but the question is what will happen to the traders located in Russia and Ukraine,,

Source: http://www.cbsnews.com/news/feds-bust-a-100-million-insider-trading-scheme/

[Stuff_]

"the insider trading scheme allegedly netted more than $100 million in illicit profits and went on for five years."

 

That is some terrible, terrible network security.

[Cheddle]

"the insider trading scheme allegedly netted more than $100 million in illicit profits and went on for five years."

 

That is some terrible, terrible network security.

 

sys. admin prolly got paid off