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

Behavioral analysis and information security

Posted on 22 September 2014.  |  In this interview, Kevin Watkins, Chief Architect at Appthority, talks about the benefits of using behavioral analysis in information security and how behavioral analysis can influence the evolution of security technologies.


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

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