Hackers Allegedly Make Millions Selling Stolen Press Releases

Two Ukrainian men allegedly masterminded the scheme to hack newswire services and release unpublished corporate earnings information to traders around the world.
2:22 | 08/11/15

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Transcript for Hackers Allegedly Make Millions Selling Stolen Press Releases
For more than five years hackers largely operating in Ukraine. Repeatedly penetrated the networks and servers of market wired. PR newswire and business wire three of the leading companies that provide those news really services. Over that five year period using a variety of hacking techniques and tactics including brute force attacks SQL injection attacks. And fishing. Those hackers stole well over 100000. Confidential news releases before they were distributed. Hackers were relentless. And they were patient. They maintain access to the victim news wires for sometimes long stretches of time more than years. And when they lost access starting over and regaining access. As alleged are indictment one of the hackers at one point actually sent an online chat message in Russian stating quote. I'm hacking PR newswire dot com close quote. Over five years those hackers then posted the releases on that overseas servers. And made available to those who were experts in trading on that information ahead of the public announcements. And they were full service. Our indictments charge that actors here Americo and Turks neo. But also provide their business partners the traders with a video tutorial explaining how to access the system. They put up servers overseas and then explain how the traders couldn't access to those servers to get the stolen releases. After getting the next necessary axis often only hours before the release was actually made public. The traders then took some very sizable positions in the securities of the companies. Sometimes as we learn from the email and other documents we recovered. The traders actually gave shopping lists of companies whose releases they expected soon and whose information they want. And in turn the traders then sent a percentage their profits to foreign bank accounts for the benefit of the hackers. Sometimes they even check the trading accounts the trade the hackers even check the trading counts to keep tabs on the traders. In two indictments one returned here in the district of New Jersey and 1 in the eastern district of New York. Charging a total of nine individuals. We allege that the can spurs still more than a 100000 news releases traded ahead of more than 800. Company country of releases and made more than thirty million dollars.

This transcript has been automatically generated and may not be 100% accurate.

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