trade secret hack | Breaking Cybersecurity News | The Hacker News

This month has been full of breaches. Now, the Securities and Exchange Commission (SEC), the top U.S. markets regulator, has disclosed that hackers managed to hack into its financial document filing system and may have illegally profited from the stolen information. On Wednesday, the SEC announced that its officials learnt last month that a previously detected 2016 cyber attack, which exploited a "software vulnerability" in the online EDGAR public-company filing system, may have "provided the basis for illicit gain through trading." EDGAR , short for Electronic Data Gathering, Analysis, and Retrieval, is an online filing system where companies submit their financial filings, which processes around 1.7 million electronic filings a year. The database lists millions of filings on corporate disclosures—ranging from quarterly earnings to sensitive and confidential information on mergers and acquisitions, which could be used for insider-trading or manipulating...

Hackers won't be spared. Three Chinese hackers have been ordered to pay $8.8 million (£6.8 million) after hacking email servers of two major New York-based law firms to steal corporate merger plans in December 2016 and used them to trade stocks. The U.S. District Judge Valerie Caproni in Manhattan sued 26-year-old Iat Hong, 30-year-old Bo Zheng, and 50-year-old Hung Chin, over a multi-million dollar insider trading scam. According to BBC News , the U.S. Securities Exchange Commission (SEC) alleged the three hackers targeted 7 different law firms, but managed to installed malware on networks belonging to two law firms only, then compromised their IT admin accounts that gave the trio access to every email account at the firms. Access to the email and web servers allowed them to gain information on planned business mergers and/or acquisitions. The trio then used this information to buy company stock before the deal, and then sell it after the public announcement of the merger ...

Vulnerability Management (VM) has long been a cornerstone of organizational cybersecurity. Nearly as old as the discipline of cybersecurity itself, it aims to help organizations identify and address potential security issues before they become serious problems. Yet, in recent years, the limitations of this approach have become increasingly evident.  At its core, Vulnerability Management processes remain essential for identifying and addressing weaknesses. But as time marches on and attack avenues evolve, this approach is beginning to show its age. In a recent report, How to Grow Vulnerability Management into Exposure Management (Gartner, How to Grow Vulnerability Management Into Exposure Management, 8 November 2024, Mitchell Schneider Et Al.), we believe Gartner® addresses this point precisely and demonstrates how organizations can – and must – shift from a vulnerability-centric strategy to a broader Exposure Management (EM) framework. We feel it's more than a worthwhile read an...