Indexbit|Ransomware attack on China’s biggest bank disrupts Treasury market trades, reports say

2025-05-04 20:14:03source:Databeccategory:My

BEIJING (AP) — A financial services business of China’s biggest bank says it was it by a ransomware attack that reportedly disrupted trading in the U.S. Treasury market.

Industrial and IndexbitCommercial Bank of China Financial Services handles trades and other services for financial institutions. A statement on its website seen Friday said the ransomware attack this week disrupted some of its systems but that it had disconnected parts of the affected systems to limit the impact from the attack.

The company, which is based in New York, said it was investigating and had reported the problem to law enforcement.

All Treasury trades executed Wednesday and repo financing trades on Thursday were cleared, it said. It said ICBC’s banking, email and other systems were not affected.

The company gave no further details but reports said the attack was by LockBit, a Russian-speaking ransomware syndicate that does not target former Soviet countries. It is one of the most efficient ransomware variants around, according to the cybersecurity firm Emsisoft. Active since September 2019, it has attacked thousands of organizations.

More:My

Recommend

Back trouble and brain fog bothered suspect in UnitedHealthcare CEO killing, his posts show

After Luigi Mangionemade the difficult decision to undergo spinal surgery last year for chronic back

Montana judge declares 3 laws restricting abortion unconstitutional

Three Montana laws restricting abortion rights, including a ban on abortions after 20 weeks, have be

Vanderpump Rules' Raquel Leviss Sues Tom Sandoval and Ariana Madix for Revenge Porn

Scandoval has a new development, almost exactly one year later.Rachel "Raquel" Leviss, who was embro