Point 72 and Citadel Hit by Audio Phishing as Cyberattacks Target Wall Street Hedge Funds

On August 6, the Financial Times reported that several major Wall Street hedge funds have recently been targeted in a series of cyberattacks. The news has put the industry on high alert for risks tied to software system vulnerabilities. According to people familiar with the matter, billionaire Steven Cohen’s Point 72 and Ken Griffin’s Citadel have both recently faced “audio phishing.” In such attacks, the attackers use phone calls or similar methods to try to obtain private information. One person familiar with the matter said that at one hedge fund, cybercriminals impersonated the company’s customer-service staff. They then contacted employees in an attempt to obtain the login credentials for their identity-verification applications. The Financial Times report, dated August 6, said the attacks triggered a high level of vigilance across the industry about software security. The details were provided by people familiar with the situation, and the report named Point 72 and Citadel as two firms that were targeted.