Hackers Penetrated a Large Hedge Fund, BAE Systems Tells CNBC

Hackers slowed down high-speed trading at a large hedge fund last year and rerouted information about the company’s trades to offsite computers, a BAE Systems Plc official told CNBC.

The cyber-attack targeted the hedge fund’s trade order entry system and added gaps to the company’s trading algorithm, Paul Henninger, global product director at BAE Systems Applied Intelligence, told the cable channel in an interview today.

The name of the hedge fund was not disclosed.

The malicious code was removed from the hedge fund’s computers once the attack was discovered by BAE Systems personnel.

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