Wed, Feb 21, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

BAE Systems thwarts cyberattack on large hedge fund

Friday, June 20, 2014

Bailey McCann, Opalesque New York:

Cybersecurity specialists BAE Systems have thwarted what CNBC is calling a 'large sophisticated cyberattack’ on a hedge fund. BAE declined to release the name of the hedge fund. The security specialist did say that late last year, hackers installed a malicious computer program on the servers of a large hedge fund which jammed its high-speed trading strategy and sent information about the trades to unknown offsite computers.

Hackers targeted the fund’s order entry system in the attack in an effort to jam up trades and siphon off order information, according to the CNBC report. The attack cost the fund millions of dollars and it is unknown whether fund principals have reported the matter to the FBI or SEC. BAE said the level of business systems sophistication in the attack was something they had not seen before.

Financial firms regularly top the list of firms attacked in more common cyber offensives like Distributed Denial of Service (DDoS) attacks. Those attacks which are typically most effective for traditional banks can jam up servicing websites and steal information. Other man-in-the-middle attacks and security vulnerabilities have also been reported including one announced just this week - discovered by CSIS dubbed Dyreza.

"The latest attacks on circumventing trusted, secure SSL/TLS connections ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Art & Motion launches collectible car alternative investment vehicle[more]

    Komfie Manalo, Opalesque Asia: Luxembourg-based Art & Motion has launched a new investment vehicle dedicated to vintage cars and exceptional high-quality vehicles as this collectible market has grown exponentially the turn of the centu

  2. Opalesque Exclusive: Global Sigma captures February's long-vol trade[more]

    Bailey McCann, Opalesque New York for New Managers: Florida-based Global Sigma rode February's volatility to new highs. The firm's AGSF strategy is up +2.8 percent through February 16 and +4.2 percent YTD a

  3. Institutional Investors - Hedge funds regain their appeal for a $57 billion asset manager, Private credit strategies in stratosphere[more]

    Hedge funds regain their appeal for a $57 billion asset manager From Bloomberg.com: With volatility back on the radar, one of the Nordic region's biggest asset managers is considering relying a bit more on hedge funds to help oversee his portfolio. Mikko Mursula, the chief investment off

  4. Investing - All aboard for hedge funds as trade tide lifts shipping, Hedge funds pile into Time Warner in bet on merger success[more]

    All aboard for hedge funds as trade tide lifts shipping From Reuters.com: Forced to abandon ship after mistiming their investments five years ago, hedge funds are venturing back in a bid to profit from growing global trade flows. Around 90 percent of traded goods by volume are tran

  5. Investing - Hedge funds turn short on tech just as stock rally takes off, After biggest short, speculators slash bearish US bond bets as supply deluge looms[more]

    Hedge funds turn short on tech just as stock rally takes off From Newsmax.com: A key group of investors has just missed out on the biggest tech-stock rally since 2014. Hedge funds and other large speculators turned net short on Nasdaq 100 Index futures for the first time in 21 months, ac