Major hedge funds fend off coordinated cyberattack campaign using AI-driven phishing tactics - LinkedIn

A number of the world’s largest hedge funds were recently targeted in a coordinated cyberattack campaign that relied on AI-enabled voice phishing techniques to try to gain access to internal systems, according to a report by Bloomberg. Citing people familiar with the matter, the report said Point72 Asset Management, Millennium Management, Citadel and Two Sigma Investments were among the firms targeted, along with several private equity groups. Point72 told investors it had detected an attempted breach but said its preliminary assessment found no evidence that client information had been compromised. The firm said its investigation is ongoing. Two Sigma confirmed it had successfully blocked an attempted intrusion, while Millennium and Citadel declined to comment. The attacks reportedly relied on AI-generated voice impersonation to convince employees to disclose sensitive information or provide access to internal systems. Cybersecurity experts say advances in generative AI have made such attacks easier to scale and increasingly convincing. The incidents add to growing concerns across the financial services sector over AI-enabled cyber threats. Earlier this year, FINRA launched its Financial Intelligence Fusion Center to strengthen intelligence sharing and coordination on cyber and fraud risks affecting the securities industry.