AI Voice Phishing Targets Three Major Wall Street Firms

Three major Wall Street firms have fallen victim to AI voice phishing attacks. Hackers attempted to replicate the voices of employees from Two Sigma, Citadel, and Point72. Two Sigma reported that it successfully blocked the attack and that there was no data breach. Citadel and Point72 declined to comment. The total assets managed by the three firms amount to tens of trillions of won, with Two Sigma managing $75 billion, Citadel $71 billion, and Point72 $50.7 billion. AI voice phishing mimics a specific individual's voice by learning from publicly available audio materials, allowing attackers to reduce the decision-making time of employees through urgent transfer requests. There have also been cases of deepfake-related fraud, such as the incident involving a UK firm that was tricked into transferring HKD 200 million using fake voices and images in Hong Kong in 2024. Deloitte projects that losses from AI-related fraud in the U.S. will increase from $12.3 billion in 2023 to $40 billion by 2027. According to an FBI report, there were 22,364 AI-related complaints, with losses amounting to approximately $893 million. The cryptocurrency industry is also exposed to similar attack risks, and financial institutions and cryptocurrency companies need to implement separate verification procedures.

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