RealNews

Brokerage hack teen charged

The Securities and Exchange Commission last week began civil and criminal proceedings against a teenager who allegedly broke into someone else’s brokerage account to dump his falling stock options. Van Dinh, 19, of Phoenixville, Pennsylvania, is accused of disguising a key logger program (called The Beast) as a new stock-charting tool, which he promoted in chatroom for investors. The program enabled him to monitor the computer activity of anyone who ran the malware. Using this trick, Dinh allegedly obtained the login and password of a TD Waterhouse broker and placed orders for 7,200 soon-to-be worthless Cisco stock option contracts. Full Story

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