U. S. authorities on Tuesday charged a suspected Ukrainian computer hacker and several traders with involvement in a scheme to trade on market-moving corporate earnings news stolen from a U. S. Securities and Exchange Commission database.
(Reuters) – U. S. authorities on Tuesday charged a suspected Ukrainian computer hacker and several traders with involvement in a scheme to trade on market-moving corporate earnings news stolen from a U. S. Securities and Exchange Commission database.
The charges against 10 defendants, including two charged criminally, relate to a suspected 2016 hacking into Edgar, the SEC’s corporate filing system used by public companies and money managers, that led to $4.14 million of illegal trading profit.
SEC Chairman Jay Clayton said the case illustrates the “significant” threats that cyber crime poses to U. S. markets, including from outside the country’s borders, and that his agency is not immune despite efforts to bolster its cyber defenses.
