22 October 2017

Fraud arrests linked to JPMorgan hack

22 July 2015  |  4400 views  |  0 JPMorgan

Authorities in the US and Israel have arrested four people in connection with fraud schemes linked to last year's huge cyberattack on JPMorgan Chase.

Two men, Gery Shalon and Ziv Orenstein, charged in the US with running a stock manipulation scheme have been picked up in Israel. A third man, Joshua Aaron, remains at large. Court filings allege that the men ran campaigns to drive up the prices of penny stocks by pushing them to people through spam emails before selling their stock for millions in profits.

Meanwhile, in a separate case, another two men, Anthony Murgio and Yuri Lebedev, have been arrested in Florida in connection with running an unlicensed bitcoin-based money transfer business, called Coin.mx. The pair are accused of exchanging cash for bitcoin for people they believed to be engaged in criminal activity and of connection to ransomware attacks.

Although there is no mention of it in official statements on either case, some of the men are also suspected of involvement with last summer's data breach at JPMorgan Chase, which the saw the personal information of more than 80 million customers stolen, says the New York Times, citing sources.

Investigators think that the suspects intended to use email addresses obtained in the hack to find more spam victims. While none of the men have been charged in relation to the attack because of a lack of evidence, authorities are hoping that they can put pressure on them to cooperate with the investigation, sources told the Washington Post.

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