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Locks, Stocks and Brokers: Hackers and Insider Trading

On February 14, 2023, a Russian national and owner of Moscow cybersecurity firm M-13 was found guilty of wire fraud, securities fraud and conspiracy to obtain unauthorized access to computers. Vladislav Klyushin was charged along with four other men — Ivan Yermakov, Nikolai Rumiantcev, Mikhail Irzak and Igor Sladkov. However, Klyushin was the only one […]

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Intel says financial graphic was ‘hacked,’ forcing early release of 2020 report

Even the leak of a single infographic can be a big deal for a major corporation. Intel Corp. had to act fast Thursday afternoon when it discovered that an infographic from its unpublished quarterly report had been circulating outside the company. As a result, the chipmaker posted those fourth quarter 2020 financial results a few minutes before the stock market closed at 4 p.m., instead of afterward. Chief Financial Officer George Davis told the Financial Times that the graphic had been “hacked” from the company’s public relations newsroom website. Intel has not specified who the thief might be, or where the graphic had been illicitly shared online. As financial cybercrime goes, the incident appears to be small and isolated, but it highlights the appeal of financial data — even a single page from a slide deck — to anyone inclined to use illicitly acquired information to get a leg up […]

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IPO all over again: McAfee prepares for return to Nasdaq

More than two decades since its last initial public offering, McAfee is planning another one. The Silicon Valley cybersecurity giant filed Monday for an IPO on the Nasdaq, a move that would separate the company from buyout firm TPG, which spun off McAfee from Intel in 2017. McAfee set a placeholder valuation of $100 million for the IPO, but the actual number is expected to be about $8 billion. There is no guarantee the company will have a successful IPO, or raise that amount of money, even as investors pour funds into public firms at a breakneck pace. The IPO market is nearing the end of the busiest third quarter for deals since 2000, the Wall Street Journal reported. Another company with cybersecurity interests, the big-data firm Palantir, is set to begin trading Wednesday on the New York Stock Exchange. Intel had acquired McAfee in 2010 for $7.7 billion. In 2017, TPG took a […]

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US financial regulator warns of ‘widespread’ phishing campaign

An influential financial oversight organization is urging U.S. brokerage firms and securities organizations to be on the lookout for an ongoing email scam that aims to steal usernames and passwords. The Financial Industry Regulatory Authority, an industry-run organization overseeing brokers and exchange markets, published an alert Monday about an “ongoing” phishing campaign in which attackers are posing as FINRA executives. The messages typically include the name of the target organization in the subject line, and encourage recipients to download an attachment that requires “immediate attention.” In fact, the attachment may direct a user to a website that prompts them to enter their credentials for Microsoft Office or SharePoint, a corporate collaboration software. The notice did not cite any specific security incidents that may have inspired the bulletin. “FINRA reminds firms to verify the legitimacy of any suspicious email prior to responding to it, opening any attachments or clicking on any embedded links,” the advisory […]

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CrowdStrike stock skyrockets on first day of NASDAQ trading

You can bet CrowdStrike executives hope the company has more days like Wednesday. The security vendor’s market value exceeded $12 billion on its first day of trading on the NASDAQ under the ticker symbol “CRWD.” That’s almost four times the company’s valuation in June 2018 when it raised $200 million in its last private round, good enough for a $3 billion valuation. The California-based company traded at $63 per share, nearly double its IPO price of $34. The big money was enough to attract attention from industry experts like Kelly Shortridge, vice president of product strategy at the vendor Capsule8 and an information security behavioral economist, who spent the day watching the ticker. Remember, huge pops on day 1 of the IPO aren’t proportionally beneficial. Doubling of the stock price, in this case, means they left a *lot* of $$$ on the table. In real dollar terms, $CRWD could‘be raised $1.4 billion […]

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