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A large Chinese, as in what both political parties used to call Red China, bank claims to have been hacked and among the results was a disruption to the market for U.S. Treasury securities.
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According to CNN:
Hong KongCNN —
A US unit of the Industrial and Commercial Bank of China (ICBC) was hit by a ransomware attack this week that disrupted some of its systems, reportedly hitting liquidity in US Treasuries which may have contributed to a brief market sell-off on Thursday.
ICBC Financial Services, which is headquartered in New York, said in a statement that the attack, which happened on Wednesday, had been reported to law enforcement. It was in the process of investigating the incident and trying to recover from the cyberattack.
“We successfully cleared US Treasury trades executed Wednesday … and [repurchase agreements] financing trades done on Thursday,” it said in the statement.
Ransomware attacks are a form of cyber extortion. The perpetrator locks the victim’s data or networks and demands payment to unblock access.
The systems of ICBC’s head office in Beijing and other domestic and overseas units were not affected by this incident, nor was the ICBC New York Branch, the unit said.
Just search ICBC cyber attack November 2023 and it is widely reported.
But I cannot find anyone asking whether it is an actual computer criminal hack or a trial run by an actual cyber military division of a global disrupter, such as China, Iran or North Korea. Round up the usual suspects.
