Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Threat Intelligence

12/28/2016
09:20 AM
50%
50%

Macau Resident Held For Hacking, Insider Trading Charges In US

Iat Hong and two others allegedly breached computers of major US law firms and stole confidential exchange on M&A transactions.

Macau resident Iat Hong was recently arrested in his country on US charges that include conspiracy to commit hacking, security fraud, and insider trading along with two others, Bo Zheng (also of Macau) and Chin Hung (of China). The US Department of Justice (DoJ) unsealed a 13-count indictment against the three and has initiated extradition proceedings against Hong.

As per DoJ, using stolen credentials the defendants planted malware into their victims’ Web servers and successfully hacked the networks of two major New York law firms to steal confidential data from emails on forthcoming mergers and acquisitions (M&A) of clients. They then used the information to allegedly manipulate the market by trading in stocks which were expected to rally post-announcement of the transactions. In this manner, the three reportedly earned a profit of at least $4 million through insider trading.

The defendants also tried to breach computers of five other law firms, at some point making at least 100,000 intrusion attempts.

In addition, they launched a start-up robotics company and allegedly hacked the servers of two robotics firms to further business gains and stole information on product design and technology.

Read charge details here.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio
 

Recommended Reading:

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
COVID-19: Latest Security News & Commentary
Dark Reading Staff 9/21/2020
Cybersecurity Bounces Back, but Talent Still Absent
Simone Petrella, Chief Executive Officer, CyberVista,  9/16/2020
Meet the Computer Scientist Who Helped Push for Paper Ballots
Kelly Jackson Higgins, Executive Editor at Dark Reading,  9/16/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Latest Comment: Exactly
Current Issue
Special Report: Computing's New Normal
This special report examines how IT security organizations have adapted to the "new normal" of computing and what the long-term effects will be. Read it and get a unique set of perspectives on issues ranging from new threats & vulnerabilities as a result of remote working to how enterprise security strategy will be affected long term.
Flash Poll
How IT Security Organizations are Attacking the Cybersecurity Problem
How IT Security Organizations are Attacking the Cybersecurity Problem
The COVID-19 pandemic turned the world -- and enterprise computing -- on end. Here's a look at how cybersecurity teams are retrenching their defense strategies, rebuilding their teams, and selecting new technologies to stop the oncoming rise of online attacks.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-11856
PUBLISHED: 2020-09-22
Arbitrary code execution vulnerability on Micro Focus Operation Bridge Reporter, affecting version 10.40 and earlier. The vulnerability could allow remote attackers to execute arbitrary code on affected installations of OBR.
CVE-2020-16202
PUBLISHED: 2020-09-22
WebAccess Node (All versions prior to 9.0.1) has incorrect permissions set for resources used by specific services, which may allow code execution with system privileges.
CVE-2020-24333
PUBLISHED: 2020-09-22
A vulnerability in Arista’s CloudVision Portal (CVP) prior to 2020.2 allows users with “read-only� or greater access rights to the Configlet Management module to download files not intended for access, located on the CVP server, by accessing ...
CVE-2020-4619
PUBLISHED: 2020-09-22
IBM Data Risk Manager (iDNA) 2.0.6 stores user credentials in plain in clear text which can be read by an authenticated user. IBM X-Force ID: 184976.
CVE-2020-4620
PUBLISHED: 2020-09-22
IBM Data Risk Manager (iDNA) 2.0.6 could allow a remote authenticated attacker to upload arbitrary files, caused by the improper validation of file extensions. By sending a specially-crafted HTTP request, a remote attacker could exploit this vulnerability to upload a malicious file, which could allo...