Why aren't the exchanges hacked?

D

dandxg

So over the last few years we keep hearing Russian hackers hacked this bank or e commerce site, etc.

Why don't they just go after the exchanges. I googled it and apparently Nasdaq admitted they were hacked.

I know some stuff but not at that level. How do the exchanges protect against that or do they get hacked and we never know.

I just thought why does everyone commit all forms of white collar crimes, ie. ponzie schemes, insider trading, front run, etc.

Why do all of that. Why not just hack into one of the exchanges and front run or siphon $$$ off.

??
 
Because the HFT front-running robots would make short work of the hackers. They would lose all their money before they could even blink. Where would they go to complain?
 
Quote from StarDust9182:

Because the HFT front-running robots would make short work of the hackers. They would lose all their money before they could even blink. Where would they go to complain?
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Hmm, interesting never thought of that angle.
 
Excellent article.

I don't think there is any safety at all on the Internet so hacking is not impossible. I really do think there will be an international attack on some country's banking institutions (and possibly some military and infrastructure targets) some day as a prelude to a war.

Years ago, I asked the bank trading VP about the security of my multiple accounts' money when he asked me some of the concerns of top traders. He took it back to his office and some time later their website issued a guarantee that our trading accounts were safe against hacking incidents.

That helped draw more traders to them. I imagine that they have some kind of insurance policy. I know that I have sent them millions of dollars of trading accounts through the years and often use that as a selling feature. I have multiple banks, trading accounts, computers etc. for my own protection.

I don't remember the exact year we discussed this, but i remember that it was before the big crash in 2008 since he asked me what I thought was happening in the market. (He was a great fellow and knew me by face) Our stories agreed and we both sidestepped any major damage in what followed. He has retired now and I miss talking to him. A great down-to-earth guy.
 
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