Spear phishing attack cost hedge fund £1.5 million in March
In a more recent attack, a targeted spear phishing attack on a $10 billion US hedge fund was averted two and a half weeks ago, according to eSentire
Hackers' most common way of extracting big sums from hedge funds – a method known as spear phishing – is also the most successful and relatively simple, say cybersecurity consultants.
Spear phishers email their targets pretending to be companies or individuals very close to the target. The email recipient only has to click on a link for the hacker to start a chain of command-and-control channels that can eventually lead to multi-million dollar losses.
This technique was used to gain access to a
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