The Securities and Exchange Commission, the country’s top Wall Street regulator, announced Wednesday that hackers breached its system for storing documents filed by publicly traded companies last year, potentially accessing data that allowed the intruders to make an illegal profit.
The system that was breached, known as EDGAR, is a popular way for investors to access the detailed financial reports companies that sell Stock to the public must periodically release.
The system receives thousands of documents a day and in 2015, fraudsters posted fake information on the site about the takeover of Avon Products, driving the company’s stock price up significantly before it was detected.
The latest announcement could hamper the SEC’s efforts to collect more detailed information about Stock Trades into a central database that could make it easier for the agency to detect market manipulation.
The credit-reporting agency Equifax announced a massive hack earlier this month that affected 143 million Americans, sparking outrage on Capitol Hill and multiple investigations.
- SEC Says It Was a Victim of Computer Hacking Last YearNew York Times
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- SEC Gets Hacked, Refuses to Release Details About Just How Fucked Everything ...Gizmodo
- SEC says hack may have led to illegal Wall Street profitsFox News
- US regulator says hackers stole market-sensitive data about companiesWCYB
- SEC says hackers may have traded using stolen insider informationFox Business
- SEC suspects hackers used stolen insider info for tradingEngadget