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
Edge-DRsplash-10-edge-articles
7 Old IT Things Every New InfoSec Pro Should Know
Joan Goodchild, Staff Editor,  4/20/2021
News
Cloud-Native Businesses Struggle With Security
Robert Lemos, Contributing Writer,  5/6/2021
Commentary
Defending Against Web Scraping Attacks
Rob Simon, Principal Security Consultant at TrustedSec,  5/7/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
2021 Top Enterprise IT Trends
We've identified the key trends that are poised to impact the IT landscape in 2021. Find out why they're important and how they will affect you today!
Flash Poll
How Enterprises are Developing Secure Applications
How Enterprises are Developing Secure Applications
Recent breaches of third-party apps are driving many organizations to think harder about the security of their off-the-shelf software as they continue to move left in secure software development practices.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-16632
PUBLISHED: 2021-05-15
A XSS Vulnerability in /uploads/dede/action_search.php in DedeCMS V5.7 SP2 allows an authenticated user to execute remote arbitrary code via the keyword parameter.
CVE-2021-32073
PUBLISHED: 2021-05-15
DedeCMS V5.7 SP2 contains a CSRF vulnerability that allows a remote attacker to send a malicious request to to the web manager allowing remote code execution.
CVE-2021-33033
PUBLISHED: 2021-05-14
The Linux kernel before 5.11.14 has a use-after-free in cipso_v4_genopt in net/ipv4/cipso_ipv4.c because the CIPSO and CALIPSO refcounting for the DOI definitions is mishandled, aka CID-ad5d07f4a9cd. This leads to writing an arbitrary value.
CVE-2021-33034
PUBLISHED: 2021-05-14
In the Linux kernel before 5.12.4, net/bluetooth/hci_event.c has a use-after-free when destroying an hci_chan, aka CID-5c4c8c954409. This leads to writing an arbitrary value.
CVE-2019-25044
PUBLISHED: 2021-05-14
The block subsystem in the Linux kernel before 5.2 has a use-after-free that can lead to arbitrary code execution in the kernel context and privilege escalation, aka CID-c3e2219216c9. This is related to blk_mq_free_rqs and blk_cleanup_queue.