Five hackers charged in biggest cyber crime case in U.S. history

Data breach cost companies more than $300 million

Five hackers have been charged in what’s being called the biggest data breach in U.S. history. 

Yesterday, federal prosecutors announced that they’ve indicted five cyber criminals responsible for a hack that cost targeted companies more than $300 million. Prosecutors say the five men, who are from Russia and Ukraine, stole and sold at least 160 credit card numbers. Two of the suspects are in custody.

The hacked companies include Nasdaq, Visa Inc., J.C. Penney Co., JetBlue Airways Corp. and Carrefour SA.

According to authorities, each of the men had specialized tasks—two hacked into networks, another mined them for data, another provided anonymous web-hosting services to hide the group’s activities, and another sold the stolen data and distributed the profits. 

“This type of crime is the cutting edge,” New Jersey U.S. Attorney Paul J. Fishman said in a statement. “Those who have the expertise and the inclination to break into our computer networks threaten our economic wellbeing, our privacy and our national security.”

Read Bloomberg and Reuters for more about the hacking charges.

For more InsideCounsel stories about cybercrime, read:

Eight charged in cybercrime scheme targeting banks, government

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A cybersecurity primer for legal departments

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More than half of in-house counsel say data security is their top legal concern

 

 

Contributing Author

Ashley Post

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