24/4/2025, 1:03:03 pm

Hackers manipulate markets in $700 million illicit trading spree

Criminals have hijacked online brokerage accounts in Japan, using them to manipulate global penny stocks, causing ¥100 billion in losses since February. Hackers buy thinly traded stocks to inflate prices, allowing earlier investors to profit. Eight major brokers, including Rakuten Securities, reported unauthorized trades, prompting some to halt certain stock purchases.