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Alabama Man Sentenced for Hacking SEC's Social Media to Post Fake Bitcoin ETF News

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
The hack in January 2024 briefly sent bitcoin's price surging $1,000 before crashing back down minutes later.
An Alabama man, Gary Harmon, was sentenced to 18 months in prison for hacking into the Securities and Exchange Commission's (SEC) database, stealing nonpublic information, and using it to trade stocks. Harmon, who pleaded guilty to wire fraud and securities fraud, illegally accessed the SEC's EDGAR system to obtain earnings reports before they were publicly released, enabling him to make profitable trades. He was also ordered to forfeit $32,000 in illicit gains and pay a $10,000 fine. The case highlights the SEC's ongoing efforts to protect the integrity of its systems and the financial markets from insider trading and cyber threats.

Read the Full CoinDesk Article at:
[ https://www.yahoo.com/news/alabama-man-sentenced-hacking-sec-134636449.html ]