The Securities and Exchange Commission has opened an investigation into the trading of Hunter Trading Post, an online hunting post that trades with an average daily volume of more than $500.
Hunters Trading Post has been a source of interest in insider trading for several years, and last week the SEC announced it had been monitoring the company for several months.
According to a statement from the SEC, the agency “has taken a close look at the trading history of Hunter trading post and its management team, and has been unable to determine a basis for their actions.”
Hunter Trading posted a loss of more that $200,000, and the SEC also said it was “not confident” that the trading was a result of insider trading.
A spokeswoman for Hunter Trading did not immediately respond to Ars’ request for comment.
“In light of the SEC’s recent investigation, the trading activities of the Hunter Trading post are being examined by the SEC,” said the SEC statement.
“While it is possible that the Hunter trading platform was hacked, it is also possible that an insider was attempting to profit from the breach.
As a result, we have decided to reopen our investigation.”
Hunter is one of a handful of online trading platforms that have been linked to insider trading scandals.
In the case of the trading site at the heart of the investigation, which has been the subject of much speculation, the SEC said that the company’s “trading team did not have sufficient experience to understand the risk of insider activity in their industry.”
In a statement, the company said it “reassured the SEC that our trading team had sufficient experience in this area to avoid any potential violations of securities laws.
As the SEC has concluded, we did not breach any laws.”
In a statement posted on the company blog, Hunter Trading said that its trading team was not aware of any insider trading before the breach and was fully cooperating with the SEC investigation.
The company’s statement continued: Hunter Trading has a high degree of confidence in its trading process, and it is the company that employs the majority of its team members.
Hunter Trading was founded in 2012 and currently employs about 120 people.
The SEC investigation comes amid a growing focus on the role of technology in insider markets.
On Tuesday, The Wall Street Journal reported that former hedge fund manager Jason Borden is currently being investigated by the Commodities Futures Trading Commission (CFTC) for allegedly using the technology to manipulate the price of bitcoin.
The CFTC has already opened an insider trading investigation into Borden, as well as the trading platform Hunter Trading.