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Marketwired, PR Newswire, Business Wire hacked in $US100m trading scam

Posted on August 12, 2015 by Dissent

AFP reports:

An international team of computer hackers and stock traders was charged with pocketing more than $US100 million ($A138 million) in illicit profits based on stolen market-moving financial information, US officials announced Tuesday.

The Department of Justice charged nine people in a criminal conspiracy with making more than $US30 million ($A41.43 million) in illegal trades on the pilfered information.

A parallel civil case from the US Securities and Exchange Commission listing 32 defendants said the scheme yielded over $US100 million in unlawful profits.

The conspiracy was engineered by a pair of hackers in Ukraine who successfully penetrated the computer systems of Marketwired, PR Newswire and Business Wire, which distribute press releases for major publicly traded companies, the officials said.

Read more on news.com.au.

Category: Business SectorHackOf NoteU.S.

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