China’s largest bank hit by ransomware attack

ICBC, the largest bank in China, suffered a devastating ransomware attack which disrupted its financial services (FS) systems, with a knock-on effect of affecting US Treasury markets, and sending ripples across the global financial world. Multiple news outlets reported that ICBC was attacked by LockBit, a ransomware operation with possible ties to Russia. However, as LockBit is a ransomware-as-a-service operation, the culprits could actually be any one of its affiliates. It’s not yet known how much money the attackers are demanding in exchange for the decryption key, or if they managed to steal any sensitive data during the attack. Reader…