Stealing Data to Gain Illicit Advantage Over Others
Artem Viacheslavovich Radchenko and Oleksandr Vitalyevich Ieremenko were charged with cases relating to computer fraud conspiracy, fraud conspiracy, wire fraud conspiracy, and computer fraud in a 16-count indictment filed by SEC in January 2019. Viacheslavovich Radchenko, the one who coordinated the entire scheme has been the first in this case. He hired Ieremenko and other hackers to hack into the SEC’s (EDGAR) system. The Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system of SEC are the one where all the companies are required to submit data regularly. This includes confidential and non-public data like contracts, earning reports, and other financial. These may not reach public until approved, and they’re sensitive documents since they can hint investors about judging the health of companies. Thus, gain an unfair advantage over others. Radchenko and Ieremenko breached into the EDGAR system of SEC via “directory traversal attacks, phishing attacks, and infecting computers with malware“, and stole thousands of such confidential files between May 2016 to October 2016. With them in hand, they have traded and also hired traders to trade on the information stolen from the SEC. This scheme has garnered them about $4.1 million in total, by exploiting the innocent investors.
Keep up with our page this morning as we reveal more of #TheCyberSearch pic.twitter.com/UeK1tOMfbS — U.S. Secret Service (@SecretService) July 22, 2020 And now, The Transnational Organized Crime Rewards Program (TOCRP) of the U.S. Department of State, has announced a bounty of up to $1 million in rewards to those who help with the information related top arrest them both. The SEC has already settled fraud charges with two traders involved in this scheme, David Kwon and Igor Sabodakha. Thus, anyone having a tip to convict those can reach the FBI at 1-800-CALL-FBI or at the www.tips.fbi.gov or contact U.S. Secret Service at 1- 877-WANTED2 or [email protected] Via: BleepingComputer
