Hack to trade
Hack to trade is obtaining unpublished, market-moving information by breaking into a computer system, such as a newswire, a filing agent or a law firm, and trading on it before it is released. The information is true, so the scheme exploits a real signal rather than injecting a false one into the price.
Where does hack to trade come up?
This term is used in the following manipulation techniques, each explained in full on its own page.
Enforcement actions involving these techniques
| Action | Agency | Filed | Technique | Penalty | Status |
|---|---|---|---|---|---|
| SEC v. Robert B. Westbrook (hack to trade, 2024) | SEC | 2024-09-27 | Hack To Trade , Insider Trading | — | filed |
| SEC v. Vladislav Kliushin, Nikolai Rumiantcev, Mikhail Irzak, Igor Sladkov, and Ivan Yermakov (hack to trade, 2021) | SEC | 2021-12-22 | Hack To Trade | — | judgment |
| SEC v. Ieremenko et al.: settlements with Cho, Olefir and Capyield (hack to trade, 2020) | SEC | 2020-11-05 | Hack To Trade , Insider Trading | $425k | settled |
| SEC v. Dubovoy et al.: settlements with eight defendants (hack to trade, 2020) | SEC | 2020-06-10 | Hack To Trade | — | judgment |
| SEC v. Ieremenko et al.: settlements with Kwon and Sabodakha (hack to trade, 2020) | SEC | 2020-04-09 | Hack To Trade , Insider Trading | $149k | settled |