The cyber hack of Industrial and Commercial Bank of China’s US broker-dealer was so extensive on Wednesday, even the corporate email stopped working and forced employees to switch to Google mail, according to two people familiar with the situation. The blackout left the brokerage temporarily owing BNY Mellon $9 billion, an amount many times larger … Read more
WASHINGTON: The US arm of China’s largest bank ICBC said it was hit by a ransomware attack, forcing clients to reroute trades.Ransomware attacks typically access vulnerable computer systems and encrypt or steal data, before sending a ransom note demanding payment in exchange for decrypting the data or not releasing it publicly.The Industrial and Commercial Bank … Read more
On November 9, trades handled by the world’s largest bank in the globe’s biggest market reportedly traversed Manhattan on a USB stick. This was as the Industrial & Commercial Bank of China (ICBC) Ltd’s US unit was hit by a cyberattack, rendering it unable to clear swathes of US Treasury trades after entities responsible for … Read more
China’s largest bank Industrial and Commercial Bank of China (ICBC) has been hit by ransomware attack. The breach has reportedly disrupted trading in the US Treasury market. The company, which is based in New York, said that it is investigating and had reported the problem to law enforcement. The bank gave no further details but … Read more
A ransomware attack on Industrial and Commercial Bank of China (ICBC) disrupted some trades in the U.S. Treasury market on Thursday but market sources said the impact seemed to be limited. ICBC Financial Services said in a statement a ransomware attack resulted in disruption to certain systems and it was conducting an investigation and “progressing … Read more