US Smashes $100m ‘Insider Trading’ Hacking Ring

August 11, 2015

US prosecutors say they have broken up an international insider trading ring of hackers and securities traders that made tens of millions of dollars.

Nine people were charged in Brooklyn, New York and Newark, including Ukrainian hackers and security traders, accused of making $30m (£19m).

They are accused of breaking into the computers of companies that put out corporate press releases, and trading on the information before it was made public.

Five defendants were taken in custody, while arrest warrants were issued for four others.

The suspects were charged with 23 counts, including securities fraud, computer fraud and conspiracy to commit money laundering.

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