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SEC sues team of hackers over 2016 Edgar database breach

The defendants made $4.1 million after placing market bets based on information they received from the SEC database.

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The stolen information included non-public corporate earnings reports and other material information. The Edgar breach lasted from May 2016 through at least October 2016, according to the SEC. (Photo: Shutterstock)

(Bloomberg) –After the U.S. government shut down their scheme trading stocks on pilfered corporate press announcements, a team of eastern European hackers moved on to an even more ambitious target: the Securities and Exchange Commission.

That’s the startling claim laid out in a Tuesday court filing.

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