World's largest bank, ICBC, faces cybersecurity breach: Know all about LockBit 3.0 ransomware
The US financial services division of the Industrial and Commercial Bank of China (ICBC), the globe's largest lender by assets, fell victim to a ransomware attack earlier this week. The attack reportedly led to disruptions in the trading of US Treasurys.
ICBC officially disclosed the incident on Thursday, attributing the disruption to its financial services arm, ICBC Financial Services. The bank revealed that it promptly isolated the affected systems upon detecting the attack to contain its impact. Ransomware attacks involve hackers seizing control of systems and demanding a ransom for their release, and ICBC stated it is actively investigating the incident with the support of information security experts and law enforcement.
