The Globe and Mail reports in its Tuesday edition that China's biggest lender, the Industrial and Commercial Bank of China, paid a ransom after it was hacked last week, a Lockbit ransomware gang representative said on Monday. A Reuters dispatch to The Globe says that ICBC, whose U.S. arm was hit by a ransom ware attack that disrupted trades in the U.S. Treasury market on Nov. 9, did not immediately respond to a request for comment. "They paid a ransom, deal closed," the Lockbit representative told Reuters via Tox, an on-line messaging app. The blackout at ICBC's U.S. broker-dealer left it temporarily owing BNY Mellon $9-billion (U.S.), an amount many times larger than its net capital. The hack was so extensive that even corporate e-mail at the firm ceased to function, forcing employees to switch to Google Mail. "The market is mostly back to normal now," said Zhiwei Ren, a portfolio manager at Penn Mutual Asset Management. The ransomware attack came at a time of heightened worries about the resiliency of the $26-trillion (U.S.) Treasury market, essential to the plumbing of global finance, and is likely to draw scrutiny from regulators. Last week, Lockbit hackers published internal data from aerospace giant Boeing.
© 2024 Canjex Publishing Ltd. All rights reserved.