US authorities break up insider trading ring using Ukraine hackers

New York

EXPOSING a new front in cybercrime, US authorities broke up an alleged insider trading ring that relied on computer hackers to pilfer corporate press announcements and then profited by trading on the sensitive information before it became public.

In morning raids in Georgia and Pennsylvania, federal agents arrested five of nine men accused in the insider trading plot. Four others were indicted on hacking and securities fraud charges but remain at large.