Hacked: Hacking Finance

SEC Brings Charges in $100 Million Newswire Hacking Scheme

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Samburaj Das

Samburaj Das

Samburaj is the contributing editor at Hacked and keeps tabs on science, technology and cyber security.


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Cybersecurity

SEC Brings Charges in $100 Million Newswire Hacking Scheme

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This article was posted on Friday, 16:20, UTC.

The US Securities and Exchange Commission (SEC) has brought charges against nine new defendants involved in an international scheme that saw newswires that distribute corporate press releases hacked to facilitate an insider trading ring. In a complaint filed in the US District Court in New Jersey on Wednesday, five traders and the four companies they owned are alleged by the SEC to make nearly $20 million in illegal profits by insider trading, Reuters revealed. Hacked reported the crime that came to light in August 2015, wherein hackers based in Ukraine and crooked Wall Street traders came together to form an…

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Samburaj Das

Samburaj Das

Samburaj is the contributing editor at Hacked and keeps tabs on science, technology and cyber security.

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