AI voice-cloning attacks target Wall Street hedge funds
Cybercriminals used AI-cloned voices to impersonate executives in phishing attacks against major Wall Street firms including Two Sigma, Citadel, and Point72. The attacks, known as "vishing," aimed to trick employees into sharing sensitive information or granting network access, but no successful breaches were reported.
What happened
Cybercriminals conducted a wave of phishing attacks against major Wall Street hedge funds and private equity firms using AI-cloned voices to impersonate executives and colleagues. The attackers used phone calls and audio messages with synthetic voices designed to trick employees into sharing sensitive information or granting unauthorized network access.
Two Sigma Investments, Citadel, and Point72 Asset Management were among the firms targeted. Two Sigma confirmed it successfully thwarted the attempt with no data compromise or system impact.
Reported impact
No successful breaches were reported from these specific incidents. Voice-cloning tools are increasingly accessible and affordable, requiring only a few minutes of publicly available audio such as from earnings calls and conference panels.
Index analysis
In 2025, a multinational firm lost nearly $25 million after employees fell for an AI-cloned CEO voicemail. Before that, a UK energy firm was duped out of $243,000 in a similar CEO voice-cloning scam.
Industry projections estimate that generative AI fraud losses could reach $40 billion annually by 2027.
Classification
Sources and evidence
This record was researched and written by the Index, based on the following original reporting.