Three Indicted on Chase Breach; Hack Resulted in a $100 Million Profit
Posted by: Timothy Weaver on 11/12/2015 10:12 AM [ Comments ]
A trio has been charged in the Southern District of New York with hacking into financial institutions and publications to manipulate stocks, including stealing customer data from JPMorgan Chase.
Gery Shalon, Joshua Samuel Aaron, and Ziv Orenstein were indicted on a 23-count indictment. The charges included securities fraud, identity theft and computer hacking.
According to U.S. Attorney Preet Bharara, the Chase breach representing the “the largest theft of customer data from a U.S. financial institution in history."
Part of the indictment reports that the trio stole the information of more than 83 million of the bank's customers. The information was then used to manipulate stock netting the hackers $100 million in profits.
Bharara said in a release that the litany of charges “showcase a brave new world of hacking for profit. It is no longer hacking merely for a quick payout, but hacking to support a diversified criminal conglomerate.”
Source: SCMagazine
According to U.S. Attorney Preet Bharara, the Chase breach representing the “the largest theft of customer data from a U.S. financial institution in history."
Part of the indictment reports that the trio stole the information of more than 83 million of the bank's customers. The information was then used to manipulate stock netting the hackers $100 million in profits.
Bharara said in a release that the litany of charges “showcase a brave new world of hacking for profit. It is no longer hacking merely for a quick payout, but hacking to support a diversified criminal conglomerate.”
Source: SCMagazine
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