Foreign exchange insiders strategically exploit market vulnerabilities for personal gain.
Insiders in foreign exchange markets use secret information to make profitable trades, even in hard-to-detect markets. Hill and Kamay were convicted of insider trading in 2015, showing how they strategically timed their trades to avoid getting caught. They traded when the market was most sensitive to local news, carefully planned their trades to avoid revealing their secrets, and traded during busy times to hide their actions. This study reveals that insider trading also happens in decentralized markets, where it's harder to catch. Whistleblowers play a crucial role in stopping this illegal activity.