Anonymous Hackers Turned Stock Analysts Are Targeting US & Chinese Corporations

A relatively unknown division of the Anonymous hacker collective that goes by the name of Anonymous Analytics has been sabotaging companies on the stock market by revealing flaws in their financial statements, with catastrophic results.

The group, which was founded in 2011, is comprised of former Anonymous hackers who decided that hacking into companies, dumping data, or launching DDoS attacks is not enough.

Anonymous Analytics are the stock market’s vigilantes

Instead, they decided to use their skills as market analysts and black hat hackers to scour the Internet for clues, sometimes with less-than-ethical techniques, and then compile financial reports on the companies they find cheating on the stock market.

Until now, the group has published reports on eleven companies. The list includes mostly US and Chinese corporations, among which the most recognizable names are Qihoo 360 and Western Union.

Its most resounding success was the report on REXLot, a Chinese-based lottery machine service. Anonymous Analytics revealed that REXLot inflated its revenue and the amount of cash on its balance sheet, based on the amount of interest earned.

Anonymus Analytics sends REXLot stock into a downward spiral

The group published its findings on June 24, 2015, and REXLot stock price plummeted from 0.485 Hong Kong dollar per share to 0.12, before trading was suspended.

REXLot rejoined the market on April 18, this year, but even after submitting a 53-page report, the company stock fell again by 50 percent.

After reading REXLot’s report, the group tweeted, “After 10 months, REXLot publishes a confused clarification announcement. We read it and endless laughs were had. We will respond shortly.” And they did, a day after. Another day after that, the group published a second report on the company and modified its rating from “sell” to “strong sell.”

A week later, news outlets reported that REXLot did not have enough cash to make due bond payments, which meant the company had to sell assets to repay bonds, proving the group right, and also showing its power and influence in the financial world.

For an Anonymous sub-division, the group has caused more financial damages to companies around the globe than any fourteen-year-old teen with a rented DDoS stressor, which would make them more qualified to get involved into #OpIcarus more than anyone else.

Source: http://news.softpedia.com/news/anonymous-hackers-turned-stock-analysts-are-targeting-us-chinese-corporations-504495.shtml