Category Archives: SEC

Key witness in press-release hacking case is sentenced to time served

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It look like the legal troubles are over for Alexander Garkusha, one of the key figures in a case involving Wall Street high-rollers and Ukrainian hackers. U.S. District Judge Raymond Dearie on Monday sentenced Garkusha, a Georgia real estate developer, to time served for his role in a $30 million scheme to trade stocks based on information gleaned from hacked press releases. The Russian-born U.S. citizen served as a cooperating witness against other defendants. Garkusha has, “in effect, been on probation” since his arrest in August 2015, his attorney said in a court filing. He was arrested in August 2015, along with four others, as part of a criminal securities fraud case that began after hackers breached PR Newswire, Marketwire and Business Wire and gathered unreleased financial news. Authorities said Garkusha traded on that inside information, and he pleaded guilty later that year to conspiracy to commit wire fraud. Dearie this week cited Garkusha’s “thorough” and “compelling” testimony in the case […]

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Slack to investors: we might be the target of organized crime, nation-sponsored hackers

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In a filing with the Securities and Exchange Commission (SEC), Slack Technologies reveals it is facing ongoing threats from nation-state actors, organized crime, and traditional one-off hackers alike. Slack develops and sells a proprietary set of cloud… Continue reading Slack to investors: we might be the target of organized crime, nation-sponsored hackers→

Slack Warns Investors It’s a Target for Nation-State Hacking

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As Slack prepares to go public, the company is warning potential investors that it’s a target for malicious attacks from “sophisticated organized crime, nation-state, and nation-state supported actors,” according to an SEC filing published today. Continue reading Slack Warns Investors It’s a Target for Nation-State Hacking→

Which Cybersecurity Framework is Right for You?

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SOC 2, CIS, NIST, ISO27001, PCI and more. How do you choose?
Given the growing amount of information and data that businesses of all sizes are having to manage, great cybersecurity is increasingly the most critical element of IT. Accenture estimat… Continue reading Which Cybersecurity Framework is Right for You?→

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

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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→

SEC brings charges in EDGAR trade hacking case

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The US Securities and Exchange Commission (SEC) has charged nine defendants in connection with a scheme to hack into SEC systems and profit from corporate information not yet released to the public. The defendants, a Ukrainian hacker, six traders in Ca… Continue reading SEC brings charges in EDGAR trade hacking case→

Two Ukrainians Charged with Plot to Hack into SEC and Commit Fraud

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The U.S. Department of Justice (DOJ) has charged two Ukrainians with participating in a plot to hack into computers systems at the U.S. Securities and Exchange Commission (SEC) and use the information they stole to commit fraud. On 15 January, the U.S…. Continue reading Two Ukrainians Charged with Plot to Hack into SEC and Commit Fraud→

Two Ukrainians charged with hacking into SEC’s EDGAR database

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The Securities and Exchange Commission and Department of Justice announced charges Tuesday against an alleged Ukrainian hacker and several other suspects in a scheme where nonpublic information was taken from the commission’s corporate filing system and used for illegal financial trading. Oleksandr Ieremenko is alleged to have hacked into the SEC’s EDGAR system, accessing “test files,” which companies can use to submit information ahead of their public earnings reports. Sometimes companies include nonpublic information in those filings. According to the SEC and U.S. Attorney’s Office of  New Jersey, Ieremenko extracted nonpublic test files from SEC servers, and then passed the information to different groups of traders. The traders made transactions before at least 157 earnings releases from May to October 2016, generating at least $4.1 million in illegal profits. The SEC discovered the breach in 2016 after realizing there was a vulnerability in the EDGAR system. The agency didn’t suspect until […]

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