Mon, Jul 6, 2015
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: New systematic strategy managed alongside research firm outperforms S&P500[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging CTA manager explains how he runs his strategy, which is based on an index produced by a research firm. Peter Turk is head of

  2. Opalesque Exclusive: New systematic strategy embraces machine learning[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The founder of a New York-based systematic trading firm, which offers a hybrid between alpha strategies and alternative feta at lower fees, describes his approa

  3. Larry Robbins' hedge fund Glenview buys 1m Tenet Healthcare shares[more]

    Komfie Manalo, Opalesque Asia: Glenview Capital Management said it bought an additional 979,482 shares at Tenet Healthcare Corp valued at $53.80 million, raising its stakes in the healthcare services company to 15.16%, reported

  4. Legal - Grayson’s hedge funds under scrutiny for possible ethics violations, Court rejects hedge fund’s motion to block merger of Samsung affiliates[more]

    Grayson’s hedge funds under scrutiny for possible ethics violations From Freebeacon.com: Rep. Alan Grayson is finding himself in hot water over managing hedge funds that bear his name, actions that are in possible violation of House ethics rules. Sitting members of Congress are prohibite

  5. Hedge funds decline in June as stocks tumble on Greek woes[more]

    From Bloomberg.com: Hedge funds posted losses across strategies last month as uncertainty over whether Greece will remain in the euro sent global stock markets tumbling. Winton Capital Management declined about 3.1 percent in June in its $12.1 billion Winton Futures Fund, leaving it down 1.9 percent

 

banner