Major Wall Street hedge funds targeted in attempted cyberattacks, Bloomberg News reports

Aug 5 : Hackers attempted a series of sophisticated cyberattacks on major Wall Street money managers in recent days, targeting their information systems, Bloomberg News reported on Wednesday, citing people familiar with the matter.

Some of the world’s largest hedge funds, including Two Sigma Investments, Citadel and Point72 Asset Management, along with several private equity firms, were targeted as part of the assault, the report said.

Attempts by hackers to break in to major financial institutions are routine.

According to the Bloomberg News report, the hacking attempts featured phone calls in which cybercriminals tried to trick employees into granting them access or handing over other sensitive information.

The tactic remains widely used by hackers because of its effectiveness. It has been used successfully by cybercriminal groups such as “Scattered Spider,” a loose-knit group of young hackers that has racked up a large roster of corporate victims over the past few years.

Citadel, Two Sigma, Balyasny and Millennium did not immediately respond to Reuters’ requests for comment, while Point72 declined to comment.

Global companies are battling a surge in AI-powered cyberattacks and ransomware that disrupt operations and steal data. In response, the White House announced a working group earlier this year, uniting AI developers and critical infrastructure operators to share threat intelligence and coordinate cyber defenses.