An update on the “hedge fund hacking” story from a couple of weeks ago… it appears that this attack (in which it was alleged that hackers penetrated hedge fund trading , delayed HFT orders and sent order information to servers in eastern Europe) did not actually happen. Apparently, this scenario was used internally at BAE Systems as a “what if” during table top exercises. For some reason, a BAE employee described this scenario to a reporter as if it was an actual incident. This is a real black eye for BAE (which probably explains why they waited for the holiday weekend to announce this).
More information:
http://www.cnbc.com/id/101807792
I still think that the kind of attack described in this scenario is bound to happen in the future as organized crime figures out that the capital markets provide much more profit potential than stealing credit card info – but there is no confirmed case of such an attack happening so far.
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