The legality depends entirely on intent and harm .
: A spoofer places a massive order to buy or sell a financial instrument with the intent to cancel it before it is ever executed.
: These "fake" orders create a false impression of market demand or supply. For example, a large buy order might trick other traders into thinking the price is about to rise, prompting them to buy. The spoofer then cancels their fake buy order and sells their actual holdings at the newly inflated price.
: These spoofers create fake websites that mimic legitimate ones to steal user data, such as login credentials or credit card information.
: They alter the caller ID information to make it seem like they're calling from a different number, often for malicious purposes like phishing or scams.
Is spoofing ever ethical? Share your thoughts in the comments below.
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