The U.S. SEC sued market-making giant Virtu Financial, accusing it of misleading customers about information security.

Odaily Planet Daily News The U.S. SEC filed a lawsuit against high-frequency trading market-making giant Virtu Financial in Manhattan Federal Court on Tuesday, accusing it of making materially false and misleading statements and omissions in the information barrier to prevent the misuse of sensitive customer information. The SEC said in its complaint that Virtu Financial repeatedly and falsely informed customers that the company used "information barriers" and "systematic segregation between business groups" to protect its material nonpublic information. In fact, from January 2018 to April 2019, "everyone" at its subsidiary Virtu Americas had access to sensitive customer information and transaction information by using common usernames and passwords. The leaked information included detailed identification information of customers as well as the names, prices and quantities of securities they bought and sold. The lawsuit seeks civil penalties, disgorgement of disgorgement and an injunction against further violations against Virtu Financial. (Reuters) According to previous news, Virtu Financial stated in March 2022 that it planned to provide wholesale services to cryptocurrency brokers. In September 2022, a consortium composed of Virtu Financial, Charles Schwab, Fidelity and other giants announced their support for the launch of the cryptocurrency exchange EDX Markets (EDXM). EDX Markets officially announced the launch of its digital asset market in June 2023.