ferg wrote: <<snip>> > The commission said the trader, Evgeny Gashichev, who was trading though an > account of Grand Logistic, a Belize corporation based in Estonia, had used > the Internet to steal passwords of account holders at online brokerage > firms, among them E*Trade Securities, TD Ameritrade and Scottrade. > > The commission said Gashichev would buy, through his own account, shares in > a thinly traded company. Immediately afterward, he would use the accounts > of victims to buy large amounts of the stock, driving up the price. He > would then sell his shares into that demand. In some cases, he would then > sell the stock short, profiting further when the price declined.
Interesting story -- thanks ferg! The only thing that really surprises me though is that it has taken this long for such a combination of techniques to be reported... Regards, Nick FitzGerald _______________________________________________ Fun and Misc security discussion for OT posts. https://linuxbox.org/cgi-bin/mailman/listinfo/funsec Note: funsec is a public and open mailing list.
