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US SEC Charges 18 for Hacking Retail Brokerage Accounts to Buy Microcap Stocks

US SEC Charges 18 for Hacking Retail Brokerage Accounts to Buy Microcap Stocks

The individuals gained over $1 million in illicit profit from the unauthorized purchases.

The SEC described the cross-border scheme as 'brazen and sophisticated'.

On Monday, the United States Securities and Exchange Commission (SEC) charged 18 persons and entities for their involvement in a fraudulent scheme that involved hacking dozens of online retail brokerage accounts.

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