Hedge funds targeted in wave of attempted cyberattacks |
| Some of the biggest US hedge funds, including Steve Cohen’s Point72 and Ken Griffin’s Citadel, have been targeted by a wave of attempted cyber attacks. The hacking attempts featured phone calls in which cybercriminals tried to trick employees into granting them access or handing over other sensitive information, according to people familiar with the situation. Reuters notes that the phone call tactic is still widely used by hackers because of its effectiveness. Vinod Paul, president of Align Managed Services, which specialises in helping hedge funds with cybersecurity and information technology, said AI tools are helping bad actors launch attacks relatively cheaply and more broadly. “Before they could attack 50 entities in a targeted attack, now they can do 1,000 . . . Hackers can also listen into a phone call and mimic the voice, tone and phrasings of the speakers to create fake calls,” Paul said. |
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