The Wire: In 2013, the servers of a large and powerful hedge fund became the target of hackers. The culprits installed malware, bringing the firm’s high speed trading to a halt, and redirecting trade information to the hackers’ machines.
While BAE Systems Applied Intelligence declined to provide CNBC the name of the hedge fund when they revealed details of the hack on Thursday, this is a worst-case scenario for any large firm. While most corporate hacks go directly for credit card information or personal data (in some cases, pizza toppingpreferences) this hack aimed for trade details. By stealing trade information, the fund’s trading strategy was jeopardized.
