In January 2013, a hedge fund headquartered in the United States was the target of a cyberattack that had its origins in Eastern Europe. In the high-speed trading accounts where a few nanoseconds can spell the difference between financial victory and defeat, several sacks full of money disappeared electronically.
When the attack was discovered, the hedge fund called in BAE Systems Applied Intelligence, a U.K.-based cybersecurity firm. The attack had gone unnoticed for 60 days and cost the hedge fund—still unnamed—”tens of millions of dollars.”
‘Rogue Code’
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
