--- description: The group allegedly infiltrated news-wires to access market-moving press releases early. title: Authorities Charge Hacker Group With Securities Fraud image: https://static.time.com/v3/assets/bltea6093859af6183b/blt5ccf288be0d68639/69885ebaf887dc2d03e91cf2/gettyimages-462630771.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close * [Markets](/tag/markets/) ## Markets Update your preferences in [Account Settings](/account/preferences/) Close # Hackers Allegedly Stole Insider Info To Make Big Trades by [Fortune](/author/fortune/) ## Fortune Update your preferences in [Account Settings](/account/preferences/) Close Aug 11, 2015 4:55 PM CUT  Traders work on the floor of the New York Stock Exchange on January 14, 2014 in New York City. Traders work on the floor of the New York Stock Exchange on January 14, 2014 in New York City.Spencer Platt—Getty Images by [Fortune](/author/fortune/) ## Fortune Update your preferences in [Account Settings](/account/preferences/) Close Aug 11, 2015 4:55 PM CUT A group of financial fraudsters [worked](http://www.nytimes.com/2015/08/12/business/dealbook/insider-trading-sec-hacking-case.html "undefined") with foreign hackers to access unpublished press releases and trade on the information therein, federal authorities said Tuesday. The U.S.-based traders worked with Eastern European computer hackers to target press release distribution companies in a scheme that netted over $100 million in ill-gotten gains. Nine people have been arrested in the case, The New York _Times_ [reports](http://www.nytimes.com/2015/08/12/business/dealbook/insider-trading-sec-hacking-case.html "undefined"). This kind of stock-trading cybercrime has become a growing problem for law enforcement. In November, the cybersecurity firm FireEye \[fortune-stock symbol=”FEYE”\] published a report on a group that [has been targeting pharmaceutical and health care executives](https://www.fireeye.com/blog/threat-research/2014/11/fin4%5Fstealing%5Finsid.html "undefined") in order to get ahold of confidential information, likely for an illegal edge in the markets. The latest incident appears to echo [a 2005 case against](https://www.sec.gov/news/press/2005-155.htm "undefined") an Estonian financial services firm called Lohmus Haavel & Viisemann, the Wall Street _Journal_ [notes](http://www.wsj.com/articles/u-s-to-charge-hackers-tapped-early-deal-news-1439265600 "undefined"). That group, which also stole press releases electronically, made off with nearly $8 billion before settling with the SEC for $14 million in the end. At least six government agencies—the Federal Bureau of Investigation, the Securities and Exchange Commission, the Secret Service, the Department of Homeland Security and the U.S. attorney’s offices in Brooklyn and New Jersey—will bring the charges against the group, the _Journal_ reports. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/3992832/hackers-trading/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/3992832/hackers-trading/"},"headline":"Hackers Allegedly Stole Insider Info To Make Big Trades","datePublished":"2015-08-11T16:55:33.000Z","dateModified":"2026-04-13T08:06:21.460Z","description":"The group made millions, officials say","url":"https://time.com/3992832/hackers-trading/","keywords":["Markets","Tech","Security","Trading","pubdesk"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt5ccf288be0d68639/69885ebaf887dc2d03e91cf2/gettyimages-462630771.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Fortune","jobTitle":null,"url":"https://time.com/author/fortune/"}],"articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt5ccf288be0d68639/69885ebaf887dc2d03e91cf2/gettyimages-462630771.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"U.S. Stocks Make Encouraging Positive Turn After Slump","caption":"U.S. Stocks Make Encouraging Positive Turn After Slump","creditText":"Spencer Platt—Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/markets/","name":"Markets"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/3992832/hackers-trading/","name":"Hackers Allegedly Stole Insider Info To Make Big Trades"}}]}] ```