Category Archives: Oleksandr Ieremenko

SEC settles with trader accused of illegal trades using hacked data

Posted on by

The U.S. Securities and Exchange Commission agreed to settle charges with one of the traders who relied on hacked data from an SEC company filing system to collectively make millions of dollars, the agency said in a federal court filing on Wednesday. The SEC settlement includes both Sungjin Cho, the trader, and Kyungja Cho, his mother. Sungjin Cho made 66 illegal trades under his own name relying on the hacked information, and placed or directed four more under accounts in his mother’s name, according to the original complaint. Last year, the SEC and Justice Department filed charges against alleged hackers and the group of traders whom they said benefited from the scheme dating back to 2016 to steal secrets from EDGAR. EDGAR is a filing system for public companies that sometimes contains information that has not yet been made public. The scheme netted at least $4.1 million for the traders, according to the SEC. Among the […]

The post SEC settles with trader accused of illegal trades using hacked data appeared first on CyberScoop.

Continue reading SEC settles with trader accused of illegal trades using hacked data→

$2 million in rewards posted for accused SEC hackers

Posted on by

It’s just like the old saying goes: If you can’t beat ’em, tweet about it. The U.S. government embarked on a public awareness campaign Wednesday seeking help in the apprehension of two Ukrainian men accused of hacking the U.S. Securities and Exchange Commission. The State Department offered rewards of up to $1 million apiece for information leading to the arrest or conviction of Artem Radchenko and Oleksandr Ieremenko. The bounty that comes more than a year after the pair were indicted in a scheme to breach an SEC database, steal nonpublic information and then sell it for a profit. The Secret Service, meanwhile, sent a series of tweets highlighting existing charges against the pair, and asked other Twitter users to provide more information. The effort to breach an SEC database resulted in more than $4.5 million in profit, the Secret Service tweeted. “As their criminal reach is worldwide, we welcome the cooperation and […]

The post $2 million in rewards posted for accused SEC hackers appeared first on CyberScoop.

Continue reading $2 million in rewards posted for accused SEC hackers→

Two traders accused of profiting from SEC hack settle charges

Posted on by

Two financial traders accused of using nonpublic information to enrich themselves have settled with the U.S. Securities and Exchange Commission more than a year after the allegations were made public. The SEC announced Thursday its settled charges against David Kwon and Igor Sabodakha in connection with a wider scheme to hack an SEC database, then use stolen data to inform financial trades. The breach at the SEC, and the insider trades that followed, illuminated to much of the public how cybercrime had emerged a new way to boost traditional forms of global financial crime. Kwon and Sabodakha were charged last year alongside seven others for allegedly infiltrating the EDGAR database, where public companies upload financial disclosure forms and future announcements for shareholders. The SEC alleges the hack was carried out by two Ukrainians, Oleksandr Ieremenko and Artem Radchenko, who then passed tips to different groups of traders. With early access […]

The post Two traders accused of profiting from SEC hack settle charges appeared first on CyberScoop.

Continue reading Two traders accused of profiting from SEC hack settle charges→

Two charged with hacking company filings out of SEC’s EDGAR system

Posted on by

They’re charged with phishing and inflicting malware to get into the EDGAR filing system, stealing thousands of filings, and selling access. Continue reading Two charged with hacking company filings out of SEC’s EDGAR system→

What are 150,000 stolen press releases worth? About 20 years in prison

Posted on by

What’s a press release worth? Rather a lot if you steal them before they go public and help people trade on the secrets you’ve uncovered… Continue reading What are 150,000 stolen press releases worth? About 20 years in prison→