US charges Greek national for selling insider trading subscriptions in the Dark Web
US prosecutors have charged Greek national Apostolos Trovias with offering insider trading services via the Dark Web. Trovias is facing criminal charges for a scheme to solicit and sell stock trading tips, including pre-release earnings and deal information, according to the US Department of Justice and the Securities and Exchange Commission. The charges were unsealed just last week, however, law enforcement believes that Trovias, operating under the alias “TheBull” has been in the business since at least 2016. Trovias’s criminal activities allegedly continued throughout early 2021.
According to the DoJ, Trovias was able to obtain and monetize insider information to Dark Web clients. The criminal began his career on an underground marketplace called AlphaBay that was seized and shut down by law enforcement in 2017. After this, Trovias allegedly switched to dealing information directly either through a pay-as-you-go or subscription basis. At some point, Trovias had approximately 100 clients subscribing to the insider trading service.