Fri, Aug 1, 2014
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. Opalesque Exclusive: Kyria Capital Management bets on women hedge fund managers[more]

    Bailey McCann, Opalesque New York: As hedge fund assets top $3 trillion, and long/short strategies get more crowded than ever, with every manager hunting for even the tiniest bit of alpha, a new firm has emerged that claims its own edge – women. A recent Rothstein Kass study showed women-owned a

  2. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag

  3. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  4. Opalesque Radio: Now is a good time to buy protection cheaply in the options market[more]

    Benedicte Gravrand, Opalesque Geneva: Investors are showing an increased interest in risk parity funds and strategies, Opalesque reported last year. Risk parity strategies have the

  5. The Big Picture: Charlemagne Capital smoothes risk out of frontier market investing with portfolio approach[more]

    Benedicte Gravrand, Opalesque Geneva: Opalesque recently talked to one of the portfolio managers of the Oaks funds, which are emerging and frontier market hedge funds focusing on equity long/short with a directional approach. They are run by