16:08 GMT18 April 2021
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    A Ukrainian hacker has admitted his role in the largest known computer hacking and securities fraud scheme.

    WASHINGTON (Sputnik) — A Ukrainian hacker has admitted his role in the largest known computer hacking and securities fraud scheme that generated $30 million in illegal profits, the US Department of Justice said in a news release.

    "A Ukrainian hacker… admitted his role in an international scheme to hack into three business newswires, steal yet-to-be published press releases… and use the information to make trades that allegedly generated approximately $30 million in illegal profits," the release stated on Monday.

    Vadym Iermolovych, 28, of Kiev, Ukraine, pleaded guilty before US District Judge Madeline Cox Arleo to three counts of conspiracy to commit wire fraud, conspiracy to commit computer hacking as well as aggravated identity theft, the Justice Department stated.

    Iermolovych’s guilty plea marked the first conviction of one of the hackers responsible for breaching the networks of Marketwired L.P., PR Newswire Association LLC and Business Wire, collectively referred to as the "Victim Newswires", the release noted.

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    Tags:
    fraud, Hacker, Ukraine, US
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