The largest bank in China says its financial services division was the cause of the ransomware attack that allegedly caused trading in the US Treasury market to be disrupted.
The New York-based Corporation stated that it was looking into the issue and had notified the authorities.
It said that all trades in Treasury securities made on Wednesday and dealings in repo financing on Thursday had been cleared. It claimed that the email, banking, and other systems of ICBC were unaffected.
The business could not provide any more information, but according to reports, the attack was carried out by the Russian-speaking ransomware syndicate LockBit, which does not target any former Soviet states.
The cybersecurity company Emsisoft claims that it is one of the most effective ransomware strains available. Since September 2019, thousands of organizations have been targeted by it.
