Major hedge funds targeted in wave of attempted cyberattacks
AI tools are helping bad actors launch attacks relatively cheaply and broadly.
Recent days have witnessed a wave of sophisticated cyberattacks targeting information systems at major Wall Street firms, according to individuals familiar with the matter. Point72 Asset Management informed its investors on August 5 that it had been attacked, though the firm indicated that no client information was stolen. The attackers also tried to infiltrate the information systems of other high-profile hedge funds, such as Two Sigma Investments and Citadel, along with several private equity firms.
The assault utilized voice phishing, or vishing, a technique where cybercriminals mimic voices in phone calls or messages to trick employees into revealing sensitive information or granting access. Two Sigma, managing US$75 billion in assets, stated that it successfully thwarted the attempt to access sensitive data. They continued to closely monitor the situation.
Point72 and Citadel's spokespersons declined to comment. Experts warn that the rise in AI-powered attacks is making it easier for hackers to launch attacks on a larger scale, posing a significant risk to firms and markets handling trillions of dollars in daily transactions.
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