Ransomware attack hits China’s ICBC; disrupts Treasury market trades: Report
Live MintIndustrial and Commercial Bank of China, the country’s largest commercial lender by assets, reportedly suffered a ransomware attack on Thursday that disrupted the trades in the US Treasury market. In a statement, ICBC Financial Services said a ransomware attack resulted in disruption to certain systems and it was conducting an investigation and “progressing its recovery efforts.” The bank said it had successfully cleared Treasury trades executed on Wednesday and repurchase agreements financing trades done on Thursday. The Treasury trades executed on Wednesday and repurchase agreements financing trades done on Thursday had been successfully cleared, the bank said. The Financial Times earlier had reported that the US Securities Industry and Financial Markets Association told members that ICBC had been hit by ransomware that disrupted the US Treasury market by preventing it from settling trades on behalf of other market players.
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Yellen says ransomware attack on China’s biggest bank minimally disrupted Treasury market trades
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