stock market scam

Toronto-based Marketwired a victim in global hacking plot that reaped more than US$100 million

Cybercrime is often synonymous with stealth and secrecy, but U.S. authorities swooped in Tuesday to accuse four men of pilfering and then profiting from unreleased financial news hacked from companies including Toronto-based Marketwired L.P.

The case, which alleges ties to hackers in Russia and Ukraine, accuses Vitaly Korchevsky and three others, along with at least five “co-conspirators,” of making trades based on fraudulently obtained information contained in confidential and non-public corporate press releases.