3 ms·

How did they do this and only make a few million?...

• jandrese 8y ago
  I'm guessing they didn't have a lot of money at their disposal.
• Drdrdrq 8y ago
  This is probably all the prosecutors can prove.
• ghayes 8y ago
  Matt Levine discussed this topic in Money Stuff today: https://www.bloomberg.com/opinion/articles/2019-01-16/even-cheaters-don-t-always-win 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.
  • AznHisoka 8y ago
    70% is still very very high. They didnt make billions because they probably started with little capital.
    • zorga 8y ago
      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.
      • lambdasquirrel 8y ago
        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.