[Futu 'Rat Trading' Case Involves 310 Accounts, 8 Traders Profited Over $80 Million] BlockBeats News, July 27: Futu Securities' U.S. clearing entity, Futu Clearing, and Interactive Brokers' U.S. brokerage entity, TradeUP, have provided information on over 310 accounts suspected of participating in insider trading of options to the plaintiffs in the related lawsuit. Reports indicate that the number of involved accounts was previously around 100 but has now increased to 310. Despite the large number of accounts involved, the illegal profits are highly concentrated. Preliminary analysis shows that just 8 traders profited over $80 million from the related trades, accounting for nearly 60% of the plaintiffs' estimated total illegal profits of $137 million. It is understood that these traders are accused of purchasing large amounts of short-term options related to Futu and Tiger Brokers before regulatory agencies issued broker rectification documents. Subsequently, the related accounts were frozen. Currently, not all account holders have been formally listed as defendants, and participation in the related trades does not equate to being confirmed as engaging in insider trading. The case remains under further investigation and litigation. [Original Link]