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This level of corporate hacking existed prior to cryptocurrencies, the difference is that it was used for stock market manipulation and profiting on short or lo
by f38zf5vdt 5y ago
This level of corporate hacking existed prior to cryptocurrencies, the difference is that it was used for stock market manipulation and profiting on short or long positions. It appears that this is even more profitable than ransomware, in the hundreds of millions or possibly even billions of dollars. [1][2]
[1] https://www.wired.com/2010/03/manipulated-stock-prices/ https://www.wired.com/2010/03/manipulated-stock-prices/
[2] https://www.reuters.com/article/us-cybercybersecurity-hacking-stocks-arr-idUSKCN0QG1EY20150811 https://www.reuters.com/article/us-cybercybersecurity-hackin...
- goatsi 5y agoYour comment makes it sound like stock markets were manipulated by hacking the companies that issued the stock. In one of your stories brokerage accounts were compromised and used to pump penny stocks. In the other someone hacked a few companies that distributed press releases to get early access to them and traded on the information. Stocks weren't even manipulated in that case, they simply placed trades based on how they thought the market would react to the news. That was a targeted attempt to get information, not a destructive attack on the entire company network.
- f38zf5vdt 5y agoYes, so both manipulation and put/calls were leveraged by hacking as I specified. I think there is a disconnect in my communications. In these cases the penetration (hacking) was the same but there was no data destruction. Ransomware appears to be a less profitable and less clever use of hacking.
- lmm 5y agoFrom my memory the profits from such attacks were remarkably low. In particular it's very striking that the hackers who compromised JP Morgan couldn't find anything more profitable to do with that access than send basic scam emails to their client lists.