Matt Levine, Columnist

Is Cyber-Insider Trading Illegal?

Also governance, bad-actor waivers, crypto-kidnapping and flamethrower returns.

Hacking insider trading!

If you can hack into a big company's computers, what should you do with that power? There are some obvious options. If the company has money, maybe you can steal its money. If it has customers, you can steal their information, and then use that information to try to steal their money, or at least send them spammy emails. Or if it is a public company, maybe you can snoop into its financial information and business plans and try to insider trade on what you find. These are all good options, in the sense that you could imagine scenarios in which they would be lucrative. But they are also all terrible options in the sense that they are blatantly illegal.