Major Wall Street firms targeted in attempted cyberattacks

Major Wall Street financial services firms and money managers have been targeted in a series of sophisticated cyberattack attempts in recent days, according to sources familiar with the matter.

The attacks, which aimed to breach information systems, reportedly involved large hedge funds and private equity firms. Hackers employed phone calls to deceive employees into granting them access or revealing sensitive data.

Point72 Asset Management confirmed to investors that it had experienced an attack, though it indicated that no customer information was stolen. Other hedge funds, including Two Sigma Investments and Citadel, were also reportedly targeted.

Cybersecurity experts state that such attempts on financial institutions are common, and the phone-call tactic remains a widely used and effective method for cybercriminals. Groups like 'Scattered Spider' have successfully victimized numerous corporations using this approach.

These incidents occur amid a broader surge in AI-powered cyberattacks and ransomware globally. In response, the White House has established a working group to foster collaboration between AI developers and critical infrastructure operators to enhance threat intelligence sharing and coordinate defensive measures.