Hoaxster hacker discovers infinite-wealth algorithm

Thursday, 10 April 2003, 2:11 PM EST

Hacker stunt-double and convicted financial fraudster Kim Schmitz (aka Kimble) is up to his old tricks, this time with a package of techno trickery for making a killing in the stock market. To satisfy the dreams of instant fortune common to those who believe in fairy tales, he's devised an "AI-based decision system" for share trading which scientifically "selects the optimal combination of trading strategies for current market conditions".

It's called Trendax, "the money-making machine," and it "uses a complex combination of sophisticated technical analysis, real-time content analysis of news feeds, multi-dimensional statistical analysis and advanced proprietary mathematical techniques," we're told.

If the technobabble alone isn't enough of a clue, we might recall that only last Summer a Munich court rewarded Schmitz with a twenty-month suspended sentence for running a stock manipulation scam called Kimvestor expected to net him something in the range of $1.5 million.

[ Read more ]




Spotlight

Intentional backdoors in iOS devices uncovered

Posted on 22 July 2014.  |  A researcher has revealed that Apple has equipped its mobile iOS with several undocumented features that can be used by attackers and law enforcement to access the sensitive data contained on the devices running it.


Weekly newsletter

Reading our newsletter every Monday will keep you up-to-date with security news.
  



Daily digest

Receive a daily digest of the latest security news.
  

DON'T
MISS

Wed, Jul 23rd
    COPYRIGHT 1998-2014 BY HELP NET SECURITY.   // READ OUR PRIVACY POLICY // ABOUT US // ADVERTISE //