Major Wall Street financial services firms and money managers, including some of the world's largest hedge funds and several private equity firms, were recently targeted in a series of sophisticated cyberattacks. These attacks utilized AI-powered voice phishing, a technique where cybercriminals use technology to mimic voices in phone calls to trick employees into granting system access or handing over sensitive information.
Targeted firms included Point72 Asset Management, Two Sigma Investments, Citadel, and Millennium Management. Point72 informed investors that it had faced an attack, with initial indications suggesting no customer information was stolen, though the firm is still reviewing the incident. Two Sigma, which manages approximately $75 billion in assets, stated that its security team quickly responded to and blocked the attempted campaign, finding no indication of any impact to its data or systems. Citadel and Point72 declined further comment on whether their systems had been breached.
The incidents reflect a growing trend in the threat landscape for financial services, with cybersecurity experts noting that such attempts are routine. Vinod Paul, president of Align Managed Services, highlighted that AI tools have significantly lowered the barrier for launching large-scale targeted attacks. Previously, hackers might target 50 entities, but now they can target 1,000, and can mimic voices and phrasing to create fake calls. FINRA has also been in contact with member firms regarding the attempted breaches and launched its Financial Intelligence Fusion Center in March 2026 to help firms share threat intelligence.
These attacks are part of an accelerating trend of cyberattacks on RIAs throughout 2026, with AI-powered social engineering targeting advisory firms. This wave of attacks adds to other cybersecurity incidents this year, which have impacted firms like Hightower Advisors, Edelman Financial Engines, Beacon Pointe, and Betterment.
