Major Hedge Funds Including Citadel, Point72 Targeted in Cyberattack Attempts, Sources Say

A series of sophisticated cyberattacks recently targeted major Wall Street financial services firms and money managers, including some of the world's largest hedge funds, according to two people familiar with the matter cited by Reuters.

Details of the Attempts

The hacking attempts reportedly involved social engineering, a tactic where cybercriminals use phone calls to try and deceive employees into granting them access to sensitive information systems. The sources, who requested anonymity, said the targets included prominent hedge funds and several private equity firms.

Among the firms targeted were:

• Point72 Asset Management
• Two Sigma Investments
• Citadel

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Point72 Asset Management disclosed to its investors on Wednesday that it had faced an attack, according to one of the sources. The firm indicated that no customer information was stolen during the incident. Citadel and Point72 declined to comment on the matter to Reuters, while Two Sigma did not immediately respond to a request for comment.

Broader Cybersecurity Context

While these specific attempts are notable, cybersecurity experts consider frequent hacking attempts on major financial institutions to be a routine threat. The use of phone calls for social engineering remains a highly effective tactic, employed by cybercriminal groups such as "Scattered Spider," which has a history of targeting corporate victims.

The incidents occur amid a global increase in sophisticated, often AI-powered, cyberattacks and ransomware threats that can disrupt operations and lead to data theft. In response to the growing threat, the White House announced a working group earlier this year to facilitate threat intelligence sharing and coordinate cyber defenses between AI developers and critical infrastructure operators.