How Hackers Made $1 Million by Stealing One News Release

August 11, 2015 11:37 PM

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How Hackers Made $1 Million by Stealing One News Release

A scheme, announced by federal authorities on Tuesday, to hack into three news wire services to steal copies of corporate news releases went on for years, and required a good deal of patience and persistence. For a while, it seemed to pay off.

The information the hackers were getting about Clorox, Hewlett-Packard and other companies was so timely it generated as much as $100 million in illicit proceeds for them and the traders, according to securities regulators.

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