UK Resident Faces US Extradition Over Alleged $12.8 Million Hack-to-Trade Scheme

A 34-year-old man from Manchester, UK, has been formally charged in a U.S. federal court with orchestrating a hack-to-trade scheme that exploited vulnerabilities in financial data systems. The indictment alleges that between 2021 and 2023, the individual accessed sensitive pre-publication earnings data from multiple U.S.-listed companies using unauthorized cyber intrusions, enabling rapid trades ahead of public disclosures. The scheme reportedly involved the use of compromised credentials and a network of offshore shell entities to obscure the flow of illicit profits. Authorities assert that the suspect used a series of encrypted messaging platforms and cryptocurrency wallets to execute trades and launder proceeds, ultimately generating $12.8 million in unauthorized gains. The charges include conspiracy to commit securities fraud, wire fraud, and money laundering under U.S. federal law. The U.S. Department of Justice has initiated extradition proceedings, citing the gravity of the offenses and the suspect’s alleged role as a central figure in a coordinated digital financial crime operation. If convicted, the individual faces a potential sentence of up to 20 years in prison on each count, with sentences to run consecutively. The case underscores growing international collaboration in prosecuting cyber-enabled financial crimes and reinforces the U.S. legal framework’s reach beyond national borders. Financial institutions, cybersecurity firms, and regulatory bodies are expected to reassess their data protection protocols in response to the scale and sophistication demonstrated in this case.