Chinese Hackers Charged with Breaching U.S. Law Firms, Trading on Stolen Information

Manhattan U.S. Attorney Preet Bharara this week announced the arrest of one hacker and the unsealing of a 13-count indictment charging him and two others with hacking into networks and servers at prominent U.S. law firms and trading on information stolen from those firms.

Seven firms were targeted and at least two were successfully breached, according to the indictment.

“As alleged, the defendants — including Iat Hong, who was arrested in Hong Kong on Christmas Day — targeted several major New York law firms, specifically looking for inside information about pending mergers and acquisitions,” Bharara said in a statement. “They allegedly hacked into two prominent law firms, stole the emails of their MA partners, and made over $4 million in illegal profits.”

While Bharara didn’t identify the targeted firms, New York law firms Cravath Swaine Moore LLP and Weil Gotshal Manges LLP were hit with high-profile breaches earlier this

Read more at: