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Join the Securities Litigation and Enforcement Group on LinkedInU.S. offers $2M reward for 2 men who hacked SEC – UPI.com
The U.S. State Department and Secret Service on Wednesday announced the two $1-million rewards for help detaining Artem Viacheslavovich Radchenko and Oleksandr Vitalyevich Ieremenko, Ukrainian nationals who have been accused of stealing information from the U.S. Securities Exchange Commission in 2016. In a statement, the Secret Service said it was the first time the agency […]
Crypto Under Attack: The Five Worst Hacks That Shook the Crypto World
Cryptocurrencies were first introduced in 2009 with the launch of Bitcoin (BTC), and since then, many other digital currencies — or altcoins — have also surfaced. Cryptocurrency is an asset that is available on a blockchain-based network and works as a medium of exchange. With their entire presence only existing online, cryptocurrencies are prone to […]
Cryptocurrency Investor Gets Second Chance to Show AT&T Liability in $24M Hack
A federal judge in California has given a cryptocurrency entrepreneur another shot to make his case that AT&T’s negligence allowed hackers to steal $24 million in digital currency. Hackers attacked blockchain and cryptocurrency investor Michael Terpin’s cellphone on two separate occasions, according to his initial complaint filed in the Central District Court of California in […]
Overseas Traders Face Charges for Hacking SEC’s Public Filings Site – WSJ
Mr. Clayton added that the SEC has worked to enhance its cybersecurity defenses in the wake of the hack, turning to other government agencies and outside consultants to “bolster our cybersecurity defenses and reduce our cyber risk profile.” The fallout from the hack has changed the SEC’s approach to cybersecurity both for the SEC itself […]
Russian, Ukrainian defendants among those charged with hacking SEC system in trading scheme – The Washington Post
There has long been disagreement within the SEC and by legal scholars about whether the agency has the authority to pursue these types of charges, said John Reed Stark, who worked for the SEC’s enforcement division for nearly 20 years and founded its former Office of Internet Enforcement. The defendants could argue that they are […]
Statement on EDGAR Hacking Enforcement Action
This action illustrates that the SEC faces many of the same cybersecurity threats that confront exchange-listed companies, other SEC-registered entities and market participants of all types. These threats to our marketplace are significant and ongoing and often involve threats from actors outside our borders. No system can be entirely safe from a cyber intrusion. Here at the SEC, […]
U.S. charges hacker, traders for infiltrating SEC database
Authorities said Oleksandr Ieremenko, 27, of Kiev, and others working with him obtained thousands of “test filings,” including roughly 157 earnings announcements, by hacking into Edgar through a Lithuanian server, and then sharing them with a network of traders. According to the SEC, these traders, comprising eight individuals and companies in the United States, Russia […]
The Salutary Effects of International Cooperation on SEC Enforcement
Another challenge that we and our international counterparts face simply boils down to human ingenuity and its application to wrongdoing. Simply put, the increasing sophistication of bad actors never seems to lag. One area where we’ve seen this is in schemes to obtain material, nonpublic information by hacking into computer networks and then trading based […]
SEC Hack Likely to Involve Eastern European Criminals – Bloomberg
The hack of the U.S. Securities and Exchange Commission’s corporate-filing database likely involved Eastern European criminals who may have been perusing market-moving information stored in the regulator’s network for months, according to two people with knowledge of the matter. via SEC Hack Likely to Involve Eastern European Criminals – Bloomberg
Hackers target weakest links for insider trading gain
As banks increase spending on cyber security into the hundreds of millions of dollars and hire thousands of information security specialists, hackers have been looking to more vulnerable targets across the financial sector. The SEC has said it believes its online filing system used by almost 6,000 public companies may have been hacked to reap […]