Wall Street cyberattacks put Canadian wealth firms on alert
Some of the world’s largest hedge funds were hit with attempted cyberattacks in recent days, Reuters reported Tuesday, as cybercriminals used phone calls to try to trick employees into surrendering system access or sensitive information.
Point72 Asset Management, Two Sigma Investments, and Citadel were among the firms targeted, along with several private equity firms, according to two sources familiar with the matter who requested anonymity given the confidentiality of the situation.
Point72 notified investors Wednesday that it had faced an attack, with one source telling Reuters the firm indicated no customer information was stolen. Two Sigma, which manages approximately $75 billion in assets, said it thwarted the attempt with no indication of data or system compromise. Citadel and Point72 declined to comment; Two Sigma did not immediately respond to Reuters’ request for further detail.
The attacks relied on vishing (voice phishing) in which criminals use AI tools to impersonate employees or trusted contacts over the phone, manipulating staff into granting remote access or revealing login credentials. While such attempts on major financial institutions are described by cybersecurity experts as routine, the scale and sophistication of the current wave is not.
The phone-call tactic has long been used by hackers because of its effectiveness. It has been deployed successfully by cybercriminal groups including Scattered Spider, a loose-knit group of young hackers that has accumulated a large roster of corporate victims in recent years. Now, AI is supercharging those same methods.
A new report released this week by voice security specialists at Mutare highlighted that organizations recognize that AI-powered voice attacks, vishing, social engineering, call spoofing, voice spam storms, and other forms of unwanted voice traffic represent a growing cyber risk capable of disrupting operations, compromising employees, and providing initial access into enterprise environments.
