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SEC sues press release hackers for 2016 breach

Photo of hands typing computer code on a laptop keyboard.
HTML code on a laptop. Photo: Jens Büttner/picture alliance via Getty Images

The U.S. Securities and Exchange Commission has charged a group of hackers in the U.S., Ukraine, and Russia with perpetrating a 2016 breach of its online corporate filing portal (EDGAR), and making more than $4.1 million in gains from using non-public information about companies.

Why it matters: The SEC says that this is the same group that hacked corporate press release websites and similarly used non-public information to make trades. The U.S. attorney’s office for the District of New Jersey has filed criminal charges against the group as well.

Go deeper: How an international hacker network turned stolen press releases into $100 million