THESSALONIKI, Greece (AP) — Greek police say they have arrested two students for allegedly defrauding a bank out of euro300,000 ($390,000) after hacking into its currency trading system.
A police statement Monday said the two 21–year–old men used an "original hacking method" to manipulate the bank's currency exchange rates over a week. They then allegedly carried out fake transactions worth a total euro1.6 million ($2.09 million), and invested half their gains in U.S. stocks.
Police are seeking a third suspect, who has only been identified as a British national.
Saturday's arrests in Thessaloniki followed a complaint from the bank, and an investigation by Greece's electronic crimes squad.
The suspects were charged with fraud, and released on bail Monday.