Feeds

Stock-trading teen hacker jailed again over 2nd scam

Back inside for $100k swindle attempt

Using blade systems to cut costs and sharpen efficiencies

A hacker jailed at 19 for a stock-trading scam has been jailed for three years over a new fraud, this time involving attempts to swindle a currency exchange out of $100,000.

Van T Dinh became infamous in 2003, aged just 19, when he hacked into the account of another trader in order to offload worthless stock derivatives he had acquired as a junior stock trader. The ruse involved tricking his victim into running Trojan horse malware disguised as a stock charting utility.

The scam was uncovered leading to computer hacking and identity theft charges against Dinh in the first case of its kind prosecuted by the Securities and Exchange Commission. He was convicted and jailed for 13 months a year later.

Dinh failed to find a regular job after his return to society, according to probation reports cited by Wired. By December 2008 he was up to his old tricks.

After setting up an account with an unnamed currency exchange he hacked into an administrator account to deposit two gifts of $55,000. He obtained unauthorised access to a further two accounts, gifting on $140,000, according to an FBI affidavit on the case obtained by Wired.

The unauthorised access was detected and traced back to an internet connection at the home Dinh shares with his mother in Phoenixville, Pennsylvania. Dinh was arrested and held on remand until his sentencing hearing this week when he was jailed for three years and ordered to pay $125,000 in compensation. ®

Boost IT visibility and business value

More from The Register

next story
Secure microkernel that uses maths to be 'bug free' goes open source
Hacker-repelling, drone-protecting code will soon be yours to tweak as you see fit
14 antivirus apps found to have security problems
Vendors just don't care, says researcher, after finding basic boo-boos in security software
How long is too long to wait for a security fix?
Synology finally patches OpenSSL bugs in Trevor's NAS
Israel's Iron Dome missile tech stolen by Chinese hackers
Corporate raiders Comment Crew fingered for attacks
Roll out the welcome mat to hackers and crackers
Security chap pens guide to bug bounty programs that won't fail like Yahoo!'s
HIDDEN packet sniffer spy tech in MILLIONS of iPhones, iPads – expert
Don't panic though – Apple's backdoor is not wide open to all, guru tells us
Researcher sat on critical IE bugs for THREE YEARS
VUPEN waited for Pwn2Own cash while IE's sandbox leaked
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.