Feeds

Programmer gets 8 years for theft of stock trading software

Wall Street-ware generated $500m in profits

High performance access to file storage

A former Goldman Sachs software developer has been sentenced to eight years in prison for stealing proprietary code used in the firm's high-speed trading platform.

Sergey Aleynikov worked at Goldman from 2007 to 2009 and was a programmer responsible for the firm's high-frequency trading software, which has generated more than $500 million in profit for the firm since 1999, prosecutors said. In June of 2009, he transferred “substantial portions” of the underlying code from Goldman servers to a server located in Germany. To avoid detection, he encrypted the files, deleted the encryption program, and then deleted his computer's bash history.

In July 2009, he flew to Chicago to attend meetings at Teza Technologies, a startup that was developing its own high-frequency trading platform. He was arrested a day later at Newark Liberty International Airport as he returned home. The computer he carried contained Goldman's proprietary code.

A naturalized US citizen who emigrated from Russia, Aleynikov had maintained he was innocent of the charges and had intended to download only open-source code from Goldman's servers. He only later realized he obtained proprietary software, he had said.

In addition to the prison sentence, Aleynikov was fined $12,500 and ordered to serve three years of supervised release. The judge in the case said the programmer deserved a lengthy sentence because “the scope of his theft was audacious.” ®

High performance access to file storage

More from The Register

next story
Obama allows NSA to exploit 0-days: report
If the spooks say they need it, they get it
Web data BLEEDOUT: Users to feel the pain as Heartbleed bug revealed
Vendors and ISPs have work to do updating firmware - if it's possible to fix this
OpenSSL Heartbleed: Bloody nose for open-source bleeding hearts
Bloke behind the cockup says not enough people are helping crucial crypto project
One year on: diplomatic fail as Chinese APT gangs get back to work
Mandiant says past 12 months shows Beijing won't call off its hackers
Call of Duty 'fragged using OpenSSL's Heartbleed exploit'
So it begins ... or maybe not, says one analyst
Heartbleed exploit, inoculation, both released
File under 'this is going to hurt you more than it hurts me'
Bad PUPPY: Undead Windows XP deposits fresh scamware on lawn
Installing random interwebs shiz will bork your zombie box
Experian subsidiary faces MEGA-PROBE for 'selling consumer data to fraudster'
US attorneys general roll up sleeves, snap on gloves
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.