The servers of Dow Jones & Co, Inc. were seriously compromised by Russian hackers last year, according to Bloomberg:
The Federal Bureau of Investigation, Secret Service and the Securities and Exchange Commission are leading an investigation of the infiltration…. The probe began at least a year ago, one of them said.
The breach is described by the people as far more serious than a lower-grade intrusion disclosed a week ago by Dow Jones, a unit of Rupert Murdoch’s News Corp. The company said last week that it was working with a cybersecurity firm and law enforcement after learning that hackers had sought contact and payment information of about 3,500 customers.
There has been a great deal of talk about China and cybersecurity lately, but less attention has been paid to Russia, perhaps because the Kremlin is busy engaging in more old-fashioned warfare, distracting analysts from its online activities. Yet, according to a Threat Assessment prepared for the Senate Armed Services Committee last February, hackers in Russia are the principal cyber threat to the United States.
This latest attack was not only cyber theft but also potentially part of an insider trading scheme. Hackers sought to gain access to material nonpublic information that they could then sell to investors or trade on themselves. Investigators say the attack highlights the challenges the internet poses to regulators looking to stop insider trading. But it doesn’t end there—indeed, this brave new online world presents all sorts of new limits, as well as powers, to businesses, regulators, and troublemakers of other sorts.