Hackers Stole Corporate Secrets to Game Stock MarketAdded: Monday, December 15th, 2014
Category: Recent Headlines Involving File Sharing > Current Events
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, 2013, www.extratorrent.cc
According to security researchers, some cyber espionage ring was stealing corporate secrets in order to game the stock market. As a result, the hackers compromised sensitive information about dozens of publicly held companies.
Security experts claim that since the middle of 2013, the group has attacked email accounts at more than a hundred of companies, most of which are pharmaceutical and healthcare businesses. Companies in other sectors also suffered, along with corporate advisers like investment bankers, attorneys and investor relations companies.
However, the security specialists didn’t identify the victims and said they didn’t know whether any trades were actually made based on the compromised data. But it is known that the hackers only targeted people who had access to highly insider data, which could be used to profit on trades before that data was made public. Such information could include, for example, drafts of US securities and exchange commission filings, documents on merger activity, and so on. Most of the victims are in the United States and trade on the NY stock exchange or Nasdaq.
It is also known that the hackers didn’t infect the computers of their victims, but rather stole passwords to email accounts and then sent phishing emails to associates from those addresses. The security experts did not identify the hackers or located them, because those hide their tracks thanks to using Tor. The suggestions are that the criminals are most likely based in the United States or Western Europe, at least this can be said based on the language they use in the phishing emails. It is sure that the hackers are not from China, taking into account the content of their emails and their other methods. As you known, normally China is blamed for economically motivated cyber espionage ¬– for example, the United States has accused the Chinese government of encouraging hackers to steal corporate secrets. China denied those allegations, which caused tension between the two countries.
The security specialists suspect that the hackers were trained at western investment banks, so that they are now able to identify their targets and write convincing phishing emails. In other words, the cyber espionage ring is just applying their knowledge of the investment banking community.
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Monday, December 15th, 2014
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