Making Money from Hacking Press Releases!
A press release is an announcement of a product or an event that is to herald something new. And generally money is spent to attract attention to a release. However, some have started making money out of press releases that have not yet been released. By stealing them and making a cool $30 million. Especially press releases detailing corporate earnings that can be used to play with the stock market.
A 28 year old Ukrainian hacker, Vadym Iermoloych admitted to having stolen over 150,000 press releases from services such as Business Wire and Marketwired to make tens of thousands of dollars by selling them and even more money by investing money in trading by leveraging the non-yet-public information contained within.
Ofcourse cyber crime like any other crime does not pay in the end and Vadym was arrested and pleaded guilty before a court but his accomplices are still at large. Whats next?