Hedge funds hit by a coordinated vishing campaign as AI cuts attack costs

Attackers targeted Point72, Millennium, Two Sigma, Citadel, and several private equity firms in a wave of voice-phishing attempts. Point72 told investors it was attacked, with initial indications that no client data was stolen. Two Sigma, which manages $75 billion, said its security team thwarted the attempt with no impact to data or systems. Wall Street breaches have surged over the past year because AI tools let attackers run campaigns cheaply and at scale. "Before they could attack 50 entities in a targeted way," according to a security executive, describing how the economics have changed. Voice cloning makes the impersonation step nearly free.

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