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Dow Jones rubbishes claims that data breach was used for insider trading

Dow Jones, the business news publisher responsible for the Wall Street Journal, has come out and denied that a data breach which affected the company hasn't been leveraged for insider trading purposes.

The breach, which apparently occurred in a pretty wide window ranging from the summer of 2012 through to 2015, was made by Russian hackers according to Bloomberg’s sources, who pilfered information prior to publication, to use it to their advantage trading before it became public knowledge.

However, according to CNN (via Computer Weekly) Dow Jones has made a statement to say that it has received “no information" from authorities about "any such alleged matter". In other words, the above sources are talking out of their hats…

Dow Jones also suffered a very recent data breach, when near the beginning of October, the firm admitted that data pertaining to 3500 individuals had been accessed. However, as we reported last week, this breach was apparently all about getting hold of contact information of subscribers to spam with fraudulent offers and the like.

It is apparently unrelated to the previous intrusion on Dow Jones’ systems, and again nothing to do with insider trading.

Russian hackers have been causing quite some damage of late, and last month a certain Vladimir Drinkman was convicted of theft of credit card details from US companies that caused financial damage to the tune of $300 million (£195 million). He was part of a team of five hackers whose campaign of online theft encompassed some 160 million credit cards.

Image source: Shutterstock/igor.stevanovic (opens in new tab)

Darren Allan
Darren Allan

Darran has over 25 years of experience in digital and magazine publishing as a writer and editor. He's also an author, having co-written a novel published by Little, Brown (Hachette UK). He currently writes news, features and buying guides for TechRadar, and occasionally other Future websites such as T3 or Creative Bloq and he's a copy editor for TechRadar Pro. Darrran has written for a large number of tech and gaming websites/magazines in the past, including Web User and ComputerActive. He has also worked at IDG Media, having been the Editor of PC Games Solutions and the Deputy Editor of PC Home.