Breaking News

Kioxia Broadens 8th Generation BiCS FLASH SSD Portfolio ASUS Announces Pro WS Platinum Series Power Supplies Razer Hammerhead V3 Wired Earbuds Bring Premium Sound and Comfort to Every Device ASUS ROG Unveils ROG Astral GeForce RTX 5080 Dhahab CORE OC Edition Transcend Introduces 8TB Industrial SSD with Power Loss Protection

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Two Ukrainians Indicted in Computer Hacking and Securities Fraud Scheme Targeting U.S. Securities and Exchange Commission

Two Ukrainians Indicted in Computer Hacking and Securities Fraud Scheme Targeting U.S. Securities and Exchange Commission

Enterprise & IT Jan 15,2019 0

U.S. authorities on Tuesday charged two Ukrainian for their roles in a large-scale, international conspiracy to hack into the Securities and Exchange Commission’s (SEC) computer systems and profit by trading on critical information they stole.

In a 16-count indictment unsealed today in the District of New Jersey, Artem Radchenko, 27, and Oleksandr Ieremenko, 26, both of Kiev, Ukraine, are charged with securities fraud conspiracy, wire fraud conspiracy, computer fraud conspiracy, wire fraud, and computer fraud. The SEC also filed a civil complaint today charging Ieremenko along with several other individuals and entities.

The indictment alleges that from February 2016 to March 2017, Radchenko and Ieremenko hacked into the SEC’s Electronic Data Gathering, Analysis and Retrieval (EDGAR) system and stole thousands of files, including annual and quarterly earnings reports containing confidential, non-public, financial information, which publicly traded companies are required to disclose to the SEC. The defendants and others then profited by selling access to the confidential information in these reports and trading on this stolen information prior to its distribution to the investing public.

The EDGAR system allows companies to make test filings in advance of a public filing. These test filings often contain information that is the same as, or similar to the information in the final filing.

To gain access to the SEC’s computer networks, the defendants used a series of targeted cyber-attacks, including directory traversal attacks, phishing attacks, and infecting computers with malware. Once the defendants had access to the test filings on the EDGAR system, they stole them by copying the test filings to servers they controlled. For example, between May 2016 and October 2016, the defendants extracted thousands of test filings from the EDGAR servers to a server they controlled in Lithuania.

Ieremenko was previously charged in a hacking and securities fraud scheme in an indictment in the District of New Jersey. That indictment charged Ieremenko with being part of a large-scale, international conspiracy to hack the computer systems of three newswire organizations and steal press releases containing confidential non-public financial information relating to hundreds of companies traded on the NASDAQ and NYSE from three newswires. The members of the conspiracy profited from the theft by trading on the news ahead of its distribution to the investing public.

Radchenko recruited to the scheme traders who were provided with the stolen test filings so they could profit by trading on the information before the investing public. Armed with the stolen information, the traders profited by executing various trades in brokerage accounts they controlled.

The wire fraud conspiracy and substantive wire fraud counts with which the defendants are charged carry a maximum potential penalty of 20 years in prison and a $250,000 fine, or twice the gain or loss from the offense. The securities fraud conspiracy, computer fraud conspiracy, and substantive computer fraud counts with which the defendants are charged carry a maximum potential penalty of five years in prison and a $250,000 fine, or twice the gain or loss from the offense.

Tags: Hackingcybercrime
Previous Post
New Intel Core i9-9990XE Processor Will Reportedly Hit the 5GHz
Next Post
Sony Announces the α6400 Mirrorless Camera with Real-time Eye Autofocus, Real-time Tracking

Related Posts

  • MSI has been hacked, be warned about where you download files

  • Hackers gain access to PS5 Debug Menu and show decrypted PS5 firmware files

  • HP Threat Research Shows Attackers Exploiting Zero‐Day Vulnerability Before Enterprises Can Patch

  • EA Gets hacked - 780GB of data and sourcecode stolen

  • European Supercomputers Researching Covid-19 Report Hacking Attacks

  • Microsoft Offers You $100,000 If You Can Hack the Linux-based Azure Sphere

  • GoDaddy Discloses Data Breach

  • Zoom Users' Data have Been on Sale on Dark Web: report

Latest News

Kioxia Broadens 8th Generation BiCS FLASH  SSD Portfolio
Enterprise & IT

Kioxia Broadens 8th Generation BiCS FLASH SSD Portfolio

ASUS Announces Pro WS Platinum Series Power Supplies
PC components

ASUS Announces Pro WS Platinum Series Power Supplies

Razer Hammerhead V3 Wired Earbuds Bring Premium Sound and Comfort to Every Device
Consumer Electronics

Razer Hammerhead V3 Wired Earbuds Bring Premium Sound and Comfort to Every Device

ASUS ROG Unveils ROG Astral GeForce RTX 5080 Dhahab CORE OC Edition
GPUs

ASUS ROG Unveils ROG Astral GeForce RTX 5080 Dhahab CORE OC Edition

Transcend Introduces 8TB Industrial SSD with Power Loss Protection
Enterprise & IT

Transcend Introduces 8TB Industrial SSD with Power Loss Protection

Popular Reviews

be quiet! Light Loop 360mm

be quiet! Light Loop 360mm

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

Arctic Liquid Freezer III 420 - 360

Arctic Liquid Freezer III 420 - 360

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

Soundpeats Pop Clip

Soundpeats Pop Clip

Crucial T705 2TB NVME White

Crucial T705 2TB NVME White

be quiet! Light Base 600 LX

be quiet! Light Base 600 LX

Noctua NH-D15 G2

Noctua NH-D15 G2

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed