Crypto markets steady as cyberattacks hit major Wall Street hedge funds

This week, several of the largest hedge funds on Wall Street were targeted in a wave of attempted cyberattacks, which reportedly include Point72 Asset Management, Citadel, Two Sigma Investments and Millennium Management.

Attackers are said to have used voice phishing, or vishing, to manipulate employees into giving up their username and password credentials or allowing access to internal systems. This is a reminder of the ever-increasing danger posed by AI-assisted social engineering to financial institutions.

Even though there were overwhelming news headlines, there hasn’t been any major impact on the crypto markets. Traders are just observing how the attacks unfold, whether it is going to limit itself to traditional finance or expand to trading firms, exchanges, and custodians contributing to the crypto ecosystem.

Bitcoin and Ether hold their ground

Cryptocurrencies remained very stable. The price of Bitcoin (BTC) stood at around $64,500 on Glassnode, showing a minor gain of about 1% in the last week while the price of Ether (ETH) was around $1,900 and recorded a marginal drop of 0.5%. The total market size of cryptocurrencies remained around $2.3 trillion.

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