Hacker Made Millions from Breaking into Business Office 365 Accounts

A hacker named Robert B. Westbrook has reportedly made millions by infiltrating Office 365 accounts of executives at publicly traded companies. According to U.S. prosecutors, Westbrook accessed these accounts to obtain non-public financial information, which he used to engage in insider trading on the stock market.

Between 2019 and 2020, Westbrook allegedly managed to generate approximately $3.75 million from these illegal activities. He faces multiple charges, including securities fraud, wire fraud, and computer fraud, which could result in significant prison time and fines if convicted. Each count of computer fraud carries a potential penalty of up to five years in prison, while securities and wire fraud could result in up to 20 years in prison and fines of up to $5 million​(TechRadar)​(Siliconfit).

The U.S. Securities and Exchange Commission (SEC) has emphasized the importance of protecting markets from cyber fraud, indicating that advanced analytics and tracing technologies can uncover complex fraudulent schemes, even when the perpetrators attempt to conceal their identities using anonymous email accounts and VPNs​(TechRadar).

This case serves as a reminder of the vulnerabilities associated with digital communications and the significant risks of insider trading enabled by cybercrime. For more details on this developing story, you can check out sources like TechRadar and SiliconFit.