Tue, Jun 19, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

BAE Systems recants hedge fund cyber attack announcement

Friday, July 04, 2014

Benedicte Gravrand, Opalesque Geneva:

Here is another hiccup case generated by a misleading source.

London-based Cyber security specialists BAE Systems Applied Intelligence thwarted last month a so-called 'large sophisticated cyber attack’ on a hedge fund. Paul Henninger, a global product director for BAE, disclosed the attack in an exclusive interview with cable network station CNBC then.

He did not name the hedge fund but did say that late last year, hackers had 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. Apparently, the hedge fund in question lost millions of dollars from that hacking. It is but one attack among many, the consultant said later.

However, two weeks later, both CNBC and BAE Systems abruptly retracted their report of an cyber attack.

According to CityAM, Natasha Davies, a company spokeswoman for BAE confirmed on Wednesday that this hacking was not real. "It was a speculative example," she said during a phone interview. "It is fea......................

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. North America - George Soros: 'Everything that could go wrong has gone wrong'[more]

    From Marketwatch.com: George Soros, tell us how you really feel. 'Everything that could go wrong has gone wrong. [Trump] is willing to destroy the world.' The 87-year-old billionaire clearly isn't shy about expressing his generally liberal views and distaste for Trump's "America First" platform,

  2. Paper: The performance of stocks actively pitched by hedge funds[more]

    Using a novel dataset drawn from investment conferences from 2008 to 2013, I show that hedge funds take advantage of the publicity of these conferences to strategically release their book information to drive market demand. Specifically, hedge funds sell pitched stocks after the conferences to ta

  3. North America - US fundraising for special purpose acquisition vehicles hits record this year[more]

    From AFR.com: Special purpose acquisition vehicles (spacs) are hitting the US market at the fastest rate on record, attracting the likes of Goldman Sachs and hedge fund investor Daniel Loeb for the two largest such deals in 2018. Spacs have raised $US4.5bn so far in 2018, the largest amount fo

  4. Investing - Man Group and AQR try to take aim at private equity industry, Hedge funds poised to be winners in AT&T-Time Warner deal[more]

    Man Group and AQR try to take aim at private equity industry From FT.com: The popularity of private equity investments has prompted asset managers such as Man Group and AQR to devise strategies that aim to replicate PE returns but at a much lower cost to investors. Both companies a

  5. News Briefs: David Stemerman's hedge fund holdings shrank before his run for governor, nvestment manager TSW triggers succession plan, Alan Howard joins Peter Thiel investing in Cologne-based fintech startup[more]

    David Stemerman's hedge fund holdings shrank before his run for governor But the U.S. holdings of Stemerman's Greenwich hedge fund, Conatus Capital, shrank from $2.6 billion at the apex to just over $1 billion before he announced his move into politics. (Hartford Courant) Inv