A cyberattack employing ransomware has caused certain systems of a financial services firm owned by China's largest bank, the Industrial and Commercial Bank of China, to crash.
The New York-based financial services company Industrial and Commercial Bank of China said it is investigating this week's ransomware attack and has reported the issue to the relevant authorities.
The company handles trades and other services for financial institutions, and the attack disrupted trading in the US Treasury market.
A statement on the company's website explained that the attack led to the disruption of some of its systems, but the company disconnected parts of the affected systems to limit the impact of the attack.
The company confirmed that all Treasury bond transactions executed on Wednesday were liquidated, and repurchase financing operations were settled Thursday.
The statement noted that banking services, email and other systems of the Industrial and Commercial Bank of China were not affected.
It is noteworthy that this attack was carried out by the "Lockbit" group, a Russian-speaking ransomware gang, which does not target the countries of the former Soviet Union.
