Expedia’s former employee hacked top bosses to gain $348,500 in trade

Data Theft, What the Hack

Expedia’s former employee hacked company executives’s emails and stole information to illegally profit from trade scheme.

 

The former IT professional to renowned travel website Expedia convicted of stealing company’s confidential information in a US federal court this week.

Aged 28, Jonathan Ly was employed at one of Expedia subsidiary Hotwire.com.

He allegedly used his network privileges to access devices belonging to Expedia’s chief financial officer (CFO) and the head of investor relations.

With the information he got form accessed devices and emails, Jonathan made a series of well-timed trades in Expedia stock options. There he is alleged to earn nearly $348,500 in profit.

Security fraud in US is punishable by up to 25 years in prison and a $250,000 fine.

The convict did not stop, even after Ly left the company in 2015, he kept companies laptop without knowledge of the company.

“Mr Ly continued to access the electronic devices and email accounts of Expedia executives after he left the organization,” said US Department of Justice.

Sentencing to the case will take place on 28 February 2017.

The US Department of Justice said Ly will require to pay back the profits made in the scheme.

Additionally, Ly will have to repay Expedia the amount it spent on intrusion case investigation, and it is nearly $81,592.

Responding the case, Jay Tabb, FBI special agent in charge said “This case was extremely shocking because Mr Ly was an employee of the organization and abused his access privileges as an IT professional”.

“He has violated the trust of his company as well as the privacy of fellow employee by accessing their files”. He added.

US attorney, Annette Hayes condemned and said: “The irony of our digital world is that the greatest threat to our networks is a human being”.

The case was investigated by the FBI and is being prosecuted by Assistant United States Attorney Kathryn Kim.

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