Chinese Hackers Must Pay $8.9 Million for Law Firm Data Theft

There’s an update to a case previously noted on this site. Bob Van Voris reports:

Three Chinese hackers who traded on data they stole from two top New York law firms were ordered by a judge to pay $8.9 million.

U.S. District Judge Valerie Caproni in Manhattan on May 5 fined the men and ordered them to forfeit their profits, plus interest. The hackers, Iat Hong, Bo Zheng and Hung Chin, broke into the email accounts of senior lawyers whose firms were hired to advise on corporate mergers and aquisitions, according to the government.

Caproni ordered a default judgement in favor of the Securities and Exchange Commission because the three men didn’t appear in court to contest the claims.

Read more on Bloomberg Law.

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