Hedge fund attack was not real, says BAE systems

Last month, an employee of BAE Systems described a hacking that took place against an unnamed hedge fund, which he said caused it to lose millions of dollars. 

 

He said that the attackers had stolen portable company secrets by installing malware software, and in the process slowed down high-speed trading.

 

But a spokeswoman for the company today confirmed that this hacking was not real, and that the case described was simply developed as an illustration of what could happen. "It was a speculative example," she said during a phone interview.

 

"It is feasible that this could happen, but originally it was said that the attack had actually occurred to one of our clients. This was incorrect."

 

BAE Systems is a London-based defence, security and aerospace company, with hedge funds among its clients.