• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Jobs
  • Career
    • Cyber Security Training
    • Work from Home
    • Cyber Security Analyst
    • Remote Work – Six Ways to Keep Your Data Safe When Working Remotely
  • Field Guide
  • Newsletter Signup
  • Deals
  • News
AskCyberSecurity.com

AskCyberSecurity.com

Cyber Security News & Information

  • Home
  • Data Privacy
    • Gamers
    • Government Cyber Security
      • Legislation
      • Standards
        • What are the risks of computer security?
        • Medical Cyber Security
    • Social Media
  • Security
    • Data Breaches
    • Scams
      • Identity theft
    • Malware
      • Ransomware
  • Software
    • Apps
    • Web Browsers
  • Glossary
    • Cyber Security Acronyms
  • About Ask Cyber Security
    • Authors
    • Contact Us
  • VPN
    • How Do I Know If My VPN is Working?
    • Best Free VPN iPhone
    • Why Use a VPN?
    • NordVPN vs IPVanish
    • Private Internet Access Download
    • Best VPN for Streaming
      • TikTok VPN
    • VPN Porn
    • Computer Security Software – What You Really Need
  • Tutorials
AskCyber Home » News » News » Ukrainian Charged for Hacking SEC’s EDGAR

Ukrainian Charged for Hacking SEC’s EDGAR

2019-01-22 by Michelle Dvorak

Ukrainian Charged Hacking SEC EDGAR

Ukrainian Hacker Charged for Hacking SEC’s EDGAR

Ukrainian hacker Oleksandr Ieremenko was charged by US Officials for his part in hacking into the Securities and Exchange Commission (SEC) EDGAR financial filing system. The hacker allegedly stole stock market reports before they were released to the public. The SEC also charged three Ukrainian traders, a Russian trader, two traders in California, and two entities for their role in the cyber security hack.

Ieremenko allegedly hacked EDGAR files that contained nonpublic earnings results. In total, 157 earnings releases were hacked and used to make stock trades valued at more than $4.1 million in profits between May and October 2016.

Hacker Ieremenko allegedly sent phishing emails to SEC employees to gain access to the SEC network. He then infected machines with malware that extracted the financial filings. The malware hacked test filings that companies submitted to EDGAR before actual filings that were intended to be made public.

The traders used an offshore entity and nominee accounts to conceal their identities when they placed trades. Financial information not yet released to the public provides a window of opportunity for the traders to use the data to place profitable securities trades before the information is made public.

“The traders compensated the hackers, including Ieremenko, for the information by either paying regular fees for access to the hacked press releases or by kicking back a portion of their trading profits,” the SEC indictment reads.

What is EDGAR?

The Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system is the SEC’s online filing system. Companies submit their required financial filings to the SEC via EDGAR. The system processes around 1.7 million electronic filings per year.

EDGAR lists millions of corporate disclosures including earnings results, annual and quarterly earnings reports, pre-IPO data, and confidential information on mergers and acquisitions

The Ukrainian hacker and some of the traders were previously charged in 2015 for stealing over100,000 unpublished press releases from PRNewswire, Business Wire, and Marketwired. The information in the still unpublished releases was used to make money on stock market trades.

The SEC investigation was conducted by the Market Abuse Unit and the Cyber Unit. The U.S. Attorney’s Office for the District of New Jersey also announced related criminal charges. Hackers Ieremenko and Radchenko were charged with 16 counts of hacking- and fraud-related charges. The NJ U.S. Attorney’s Office intends to seize all property tied to the alleged conspiracy.

Ieremenko remains at large in Ukraine.

Filed Under: News Tagged With: malware, SEC

About Michelle Dvorak

Michelle writes about cyber security, data privacy focusing on social media privacy as well as how to protect your IoT devices. She has worked in internet technology for over 20 years and owns METRONY, LLC. Michelle earned a B.S. in Engineering from Rensselaer Polytechnic Institute. Michelle published a guide to Cyber Security for Business Travelers


LinkedInTwitterFacebook

Primary Sidebar

Subscribe to Our Free Newsletter

We Don't Share or Sell Your Info

Web Browsers

Where Are My Saved Passwords in Chrome?

Google Removes 70 Malicious Browser Add-ons from Chrome Web Store

Firefox 75 Reports Your Browser Settings to Mozilla

511 Tactical

WHAT TO SHOP NOW

Shop

Safeguard Your Money with a VPN

Beat the Stock Market! - Get Rule Breakers!

Malwarebytes Anti-Virus is On Sale!

Shop Kaspersky Anti-Virus

Cyber Security Field Guide

Computer Security While TravelingGet Our Cyber Security Field Guide - Available on Amazon!

Recent Posts

Gun Forum Booted by Domain Registrar

Feds Warn of Microsoft Defender Security Bug

New and Noteworthy Security and IT Courses

Classiscam Telegram Phishing Scam Targeting Europeans

Niantic Wins Game Cheat Lawsuit

Categories

Cyber Security News

Gun Forum Booted by Domain Registrar

… [Read More...] about Gun Forum Booted by Domain Registrar

Classiscam Telegram Phishing Scam Targeting Europeans

… [Read More...] about Classiscam Telegram Phishing Scam Targeting Europeans

Niantic Wins Game Cheat Lawsuit

… [Read More...] about Niantic Wins Game Cheat Lawsuit

Reserve Bank of New Zealand Reports Data Breach

… [Read More...] about Reserve Bank of New Zealand Reports Data Breach

More Cyber Security News

Tags

amazon Android Apple bitcoin Career China chrome CISA credit card Cyber Attack Cyber security Data Breach data privacy DHS Equifax Facebook FBI Firefox FTC games GDPR Google Government hack hacker identity theft iPhone Iran IRS malware Microsoft North Korea PayPal phishing phishing email ransomware Russia scam smartphone TikTok tutorial VPN web browser WhatsApp WiFi

Government

FTC Releases Cyber Threat Video Playlist

Malware Found on US Government Funded Phones

UK NCA Reaches Out to Youth to Deter Cybercrimes

Texas DOT Hit by Ransomware Attack

More Posts from this Category

Footer

Menu

  • Home
  • About
  • Authors
  • News
  • Newsletter Signup
  • PRIVACY POLICY

Search

Why Use a VPN?

NordVPN vs IPVanish VPN Review

NAVIGATION

  • Data Breaches
  • Data Privacy
  • Gamers
  • Scams
  • Malware

MEMBER NJCCIC

New Jersey Cybersecurity & Communications Integration Cell

STAY CONNECTED

  • Facebook
  • Instagram
  • Pinterest
  • YouTube
  • Twitter
  • RSS

Copyright © 2021 · AskCyberSecurity.com · METRONY, LLC

Go to mobile version