Hackers Target Citadel, Point72 and Two Sigma in AI Vishing Attacks

Wall Street Giants Targeted in Coordinated Vishing Assault

A sophisticated wave of cyberattacks struck Wall Street financial institutions and money managers, targeting the information systems of some of the world’s largest hedge funds and private equity firms. The assault relied on voice phishing, or vishing, where cybercriminals leverage technology to mimic human voices, tones, and phrasings in phone calls or messages to trick employees into granting system access or handing over sensitive data.

Point72 Asset Management informed investors that it had been targeted by hackers, indicating that no customer information was stolen during the breach. Attackers also attempted to infiltrate information systems at Two Sigma Investments and Citadel, according to people familiar with the matter who spoke on condition of anonymity.

Two Sigma, which oversees US$75 billion (S$96 billion) in assets, confirmed that its security team successfully thwarted the attempt. In a statement, the firm reported that its security professionals responded quickly to the campaign targeting investment managers and stated they had no indication of any impact on data or systems.

“Our security team responded quickly to an attempted vishing campaign targeting Two Sigma and other investment managers, and we have no indication of any impact to our data or our systems.”

Two Sigma spokesperson

While Two Sigma confirmed its defense held, spokespeople for Point72 and Citadel declined to comment on the incidents.

Artificial Intelligence Lowers the Barrier for Scale Attacks

Cybersecurity experts emphasize that financial institutions face routine intrusion attempts, but the integration of modern artificial intelligence tools has fundamentally altered the threat landscape. Bad actors can now execute attacks cheaply, broadly, and with unprecedented scale.

Vinod Paul, president of Align Managed Services, noted that the technological shift allows attackers to dramatically expand their operational reach. Where hackers once focused on a handful of targets, artificial intelligence enables them to multiply their efforts exponentially.

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“Before they could attack 50 entities in a targeted attack, now they can do 1,000.”

Vinod Paul, president of Align Managed Services

Will Wilson, chief executive officer of Antithesis, pointed out that the financial industry historically relied on specialized, rare skills to execute intrusions, which allowed firms to maintain lax software practices for decades. The arrival of commoditized AI changes that equation entirely, forcing firms to upgrade their defenses or face severe operational risks.

“The terrifying thing about modern day AI systems is that they have commoditized this and made it possible to execute attacks at scale. Everybody will have to seriously level up. Otherwise they are going to be in big trouble.”

Will Wilson, chief executive officer of Antithesis

Security researchers note that phone-call tactics remain widely used due to their persistent effectiveness. Similar vishing methods have been utilized successfully by groups such as Scattered Spider, a loose-knit group of young hackers responsible for a large roster of corporate victims over recent years.

Regulatory Scrutiny and Industry-Wide Defense Coordination

The Financial Industry Regulatory Authority, which oversees broker-dealers and securities professionals, has reached out to member firms regarding the recent attempted breaches. In response to rising sophisticated cyber and fraud threats directed at financial services, Finra launched the Financial Intelligence Fusion Centre in March as a secure portal for members to share threat intelligence and coordinate defensive responses.

At the federal level, authorities are working to shore up critical infrastructure defenses. The White House announced a working group earlier this year uniting artificial intelligence developers and critical infrastructure operators to share threat intelligence and coordinate cyber defenses against disruptions.

These incidents underscore the vulnerability of financial markets handling trillions of dollars in daily transactions, as scammers and hostile actors harness cutting-edge technologies to extract ransoms and disrupt operations across critical sectors.