China's ICBC, the world's biggest bank, hit by cyberattack that reportedly disrupted Treasury markets
Publishing timestamp: 2023-11-10 10:21:18
Summary
ICBC's U.S. financial services division was hit by a ransomware attack, disrupting the trading of U.S. Treasurys. The attack was carried out by the hacking group LockBit. ICBC has isolated the impacted systems and is conducting an investigation. The U.S. Treasury Department is monitoring the situation, and ICBC has cleared some trades but there were reports of disruption. The bank's China operations were not affected. The ransomware used, LockBit 3.0, is difficult to analyze and detect. LockBit is a popular strain of ransomware and operates as a "ransomware-as-a-service" business model. The group behind LockBit has targeted small and medium-sized businesses and has been involved in previous high-profile attacks.
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Keywords: united states, crime, banks, ransomware, new york, bonds, markets, hacking, business news, boeing co, cyberattack, cybersecurity, ransomware attack, technology,
Source: https://www.cnbc.com/2023/11/10/icbc-the-worlds-biggest-bank-hit-by-ransomware-cyberattack.html