"Sung Mo Jun, Joon Jun, and Chon allegedly used encrypted messaging applications to discuss their trading in an attempt to evade detection. According to the complaint, Sung Mo Jun, Joon Jun, and Chon made approximately $3 million in total profits from the illegal scheme. The SEC Market Abuse Unit's Analysis and Detection Center uncovered the trading ring by using data analysis tools to identify the traders' improbably successful trading over time."
I'm curious which messaging app they used. I also wonder if someone tipped off the SEC or they just uncovered this in their own analysis work - it doesn't seem like making $3m off Netflix stock trades over a couple of years is particularly alarming on the surface, but idk I'm not an expert... maybe the timing of the buy orders and also looking into what other trades they were making (if any) was easy to spot.
I'm curious which messaging app they used. I also wonder if someone tipped off the SEC or they just uncovered this in their own analysis work - it doesn't seem like making $3m off Netflix stock trades over a couple of years is particularly alarming on the surface, but idk I'm not an expert... maybe the timing of the buy orders and also looking into what other trades they were making (if any) was easy to spot.