Ransomware attack on China’s biggest bank disrupts US Treasury market

  • November 10, 2023
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American arm of ICBC is latest victim of hackers and is investigating

The Industrial and Commercial Bank of China’s US arm was hit by a ransomware attack that disrupted trades in the US Treasury market on Thursday, the latest in a string of victims ransom-demanding hackers have claimed this year.

ICBC Financial Services, the US unit of China’s largest commercial lender by assets, said it was investigating the attack that disrupted some of its systems, and making progress towards recovering from it.

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