Hats -off to reader Xin for pointing me toward this article published by Bloomberg yesterday
It seems that hackers in Ukraine have been accessing key data releases ahead of publication and then selling that info on to traders
Five traders in the U.S. were arrested yesterday in connection with the alleged plot, which federal officials characterized as one of the most sophisticated trading rings ever seen. The supposed take: as much as $100 million.
As authorities tell it, how the suspects pulled off their crimes seems at once mindbogglingly complex and fiendishly simple. In essence, the overseas hackers behind the scheme stole information and built an entire online business around it -- a sort of Amazon of insider trading. They even went so far as to create a video tutorial for using their illicit products.
Leaks/hacks, seems like info flows have taken on a whole new area of expertise
Full article here
