UK defence firm BAE Systems has admitted that its tale of electronic intrusion into a hedge fund client's high-frequency trading (HFT) system was a falsehood, causing cybersecurity experts to speculate if such an attack might ever take place.
Two weeks ago, BAE claimed it had foiled a malicious cyber attack on a hedge fund, declining to identify the client. But BAE spokesperson Morag Lucey now says the story was only an "illustrative scenario" that had been incorrectly presented, and that the
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