Cyber ring stole secrets for gaming U.S. stock market: FireEye
Source: REUTERS
(Reuters) - Security researchers say they have uncovered a cyber espionage ring focused on stealing corporate secrets for the purpose of gaming the stock market, in an operation that has compromised sensitive data about dozens of publicly held companies.
Cybersecurity firm FireEye Inc, which disclosed the operation on Monday, said that since the middle of last year, the group has attacked email accounts at more than 100 firms, most of them pharmaceutical and healthcare companies.
Victims also include firms in other sectors, as well as corporate advisors including investment bankers, attorneys and investor relations firms, according to FireEye.
The cybersecurity firm declined to identify the victims. It said it did not know whether any trades were actually made based on the stolen data.
Still, FireEye Threat Intelligence Manager Jen Weedon said the hackers only targeted people with access to highly insider data that could be used to profit on trades before that data was made public.
Read more: http://www.reuters.com/article/2014/12/01/us-cybersecurity-wall-street-idUSKCN0JF29420141201
groundloop
(11,518 posts)I know all too well about investment bankers, the company I worked for was owned by an investment banker who profited handsomely by taking the company into bankruptcy. A lot of good people lost their jobs, every one of us who had company stock lost every last penny of our investments, and a handful of rich assholes got even richer.
Yes, I'd agree that this crime is simply a matter of one group of criminals attempting to take advantage of another group of criminals, all at the expense of working people.
PeoViejo
(2,178 posts)The little guy ends up with the bill.
DeSwiss
(27,137 posts)All criminals hate competition.
The players been doing it for years.
SansACause
(520 posts)That would be the more correct headline.