Security News > 2021 > July > US indicts dark web user 'The Bull' for insider trading
The U.S. Department of Justice has charged an individual for engaging in insider trading on the darknet.
Greece-based Apostolos Trovias, known as the "The Bull" frequently used encrypted messaging services and the dark web for soliciting, exchanging and selling inside information.
The 30-year old, Athens-based Trovias allegedly used dark web and encrypted messaging apps for years to engage in securities fraud and money laundering activities.
"Behind the veil of the Dark Web, using encrypted messaging applications and emails, Trovias created a business model in which he sold-for profit-proprietary information from other companies, stock trading tips, pre-release earnings, and other inside information, as we allege."
United States Attorney for the Southern District of New York, Audrey Strauss stressed that committing insider trading even using newer technologies still produces a decidedly traditional outcome- a criminal indictment.
"As alleged, Apostolos Trovias attempted to hide his insider trading scheme behind anonymizing software, screennames, and bitcoin payments," said Strauss.
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