US Accuses ‘The Bull’ Of Selling Inside Information Online

A cybercriminal known as “The Bull” has been snapped up by US authorities for selling inside information about publicly traded companies on the dark web.

In The last days, the Southern District of New York and the FBI Field Office in New York have unveiled an indictment and complaint against Greek national Apostolos Trovias, who goes by the pseudonym The Bull on the dark web as well as on encrypted messaging and messaging services. Trovias is accused of selling stock advice based on confidential client transaction information, pre-release earnings reports and trade information.

He is charged with one count of securities fraud and one count of money laundering, each carrying maximum sentences ranging from 20 to 25 years in prison.

According to New York authorities, Trovias sold inside information to individuals in various ways. From 2016 to 2017, he sold stock tips on the dark web site known as AlphaBay Market, which was the largest criminal market for illicit goods on the Internet before it closed.

Trovias, however, was not limited to AlphaBay and probably had to find other support for its activities when that site disappeared. Authorities say that between 2017 and 2020, he decided to go the direct-to-consumer method and used encrypted messaging and email services to communicate with buyers. One of his notable transactions included a pre-release earnings report from a publicly traded company, which he sold for around $ 5,000 in bitcoin.

The Bull would then have decided to step up its insider trading operation, taking steps to design and create a website to sell its information. He planned to charge membership fees and commissions to people who used the information he provided, authorities said.

In one Press release Regarding the charges, William F. Sweeney Jr., deputy director in charge of the FBI’s field office in New York, warned his agency frequented the same places as Trovias.

“The FBI also operates in the Dark Web,” Sweeney said. “[W]You don’t stop enforcing the law just because you are committing federal crimes behind a router with your keyboard.

Given the recent revelation that the FBI used fake encrypted honeypot phones follow and Stop individuals in transnational criminal organizations, that seems to be an understatement. Moral of the story: Don’t commit Internet crimes. Or not at all, please.