Re:DOJ: Hackers broke into an SEC database and made millions...
by lambdasquirrel on Wednesday January 16, 2019 @03:15PM
(#18924618)
How did they do this and only make a few million?...
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Re:DOJ: Hackers broke into an SEC database and made millions...
by ghayes on Wednesday January 16, 2019 @03:35PM
(#18924867)
Matt Levine discussed this topic in Money Stuff today: https://www.bloomberg.com/opinion/articles/2019-01-16/even-c...
Long-story short is that it's not always obvious how the market will react to releases. Some of the hackers only traded with a ~70% win-rate after holding the releases.
Re:DOJ: Hackers broke into an SEC database and made millions...
by AznHisoka on Wednesday January 16, 2019 @03:45PM
(#18924968)
70% is still very very high. They didnt make billions because they probably started with little capital.
Re:DOJ: Hackers broke into an SEC database and made millions...
by zorga on Wednesday January 16, 2019 @07:13PM
(#18927046)
70% is extremely high, you can easily get rich with a 51% advantage and making enough small bets to invoke the law of large numbers.
Re:DOJ: Hackers broke into an SEC database and made millions...
by lambdasquirrel on Wednesday January 16, 2019 @10:05PM
(#18927985)
That, and depending on the companies they got data on (i.e. any number of widely traded stocks with large market caps), they could have had a LOT of volume to play with. This is a big deal and it's mind-boggling that the breach happened.