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The SEC’s Cyber Embarrassment

7 29 0
The Securities and Exchange Commission let slip Wednesday evening—nearly half way into a 4,000-word statement on cybersecurity—that it learned last month that a hacking “incident previously detected in 2016 may have provided the basis for illicit gain through trading.” In journalism, this is known as burying the lead. The SEC’s four-line disclosure provides few details other than that the breach affected its EDGAR system, which receives and processes more than 1.7 million electronic filings a year. Hackers were able to...

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