Multi-agent trading systems built on large language models (LLMs) are beginning to appear in quantitative finance, yet their robustness to adversarial inputs is largely unknown. We study the vulnerability of LLM trading stacks to black-box, input-only attacks that enter solely via admissible social-media feeds. We introduce the Generic Multi-Agent Trading System (GMATS), a framework that captures modern multiagent trading architectures and instantiate a class of black-box poisoning attackers that treat an LLM as a post generator and inject budget-constrained, plausibly benign social-media content into the analyst's evidence stream. We define contagion metrics that trace how adversarial content propagates through the stack, including belief-shift scores at analyst and coordinator layers and attack-clean deltas on standard backtest metrics. Experiments on a safe offline benchmark with historical market and social data show that even simple input-only attackers can materially degrade risk-return profiles, sharply reducing Sharpe ratios. At the same time, we find that suitably designed multi-agent topologies and coordinator prompts can dampen adversarial shocks and improve average robustness under identical poisoning budgets.
Multimodal large language models (MLLMs) have extended the capability of large language models (LLMs) to process more contextual multimodal information, showing remarkable progress in diverse realistic multimodal applications. Despite their strong perception and reasoning abilities, recent studies reveal that MLLMs remain highly vulnerable to adversarial inputs, especially those targeting visual components. However, existing attacks mainly focus on global perturbations, lacking an understanding of how MLLMs internally interpret visual structures. In this paper, we make the attempt to investigate the intrinsic focus of MLLMs in the frequency domain and discover that their predictions are particularly sensitive to phase information, which encodes essential structural and semantic cues. Based on this observation, we propose a novel phase-aware adversarial attack framework that explicitly restricts adversarial perturbations to structure-relevant phase regions to suppress the MLLMs'focus for effective and imperceptible attacks. To further amplify the structural influence, we also introduce an auxiliary adversarial prompt learning module to guide multimodal misalignment around phase-sensitive regions, misleading the MLLM's attention toward targeted structural patterns. Extensive experiments on multiple representative MLLM models and datasets demonstrate the superior effectiveness of our method compared to existing attacks.
Daizong Liu, Junhao Dong, Zhi-Yuan Ma et al.· IEEE transactions on multime...· 0 citations
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