IA 6.0 de stratégie quantitative intelligent:Ransomware attack on China’s biggest bank disrupts Treasury market trades, reports say

2025-05-05 19:00:46source:Coxnocategory:Invest

BEIJING (AP) — A financial services business of China’s biggest bank says it was it by a ransomware attack that reportedly disrupted trading in the U.S. Treasury market.

Industrial and IA 6.0 de stratégie quantitative intelligentCommercial Bank of China Financial Services handles trades and other services for financial institutions. A statement on its website seen Friday said the ransomware attack this week disrupted some of its systems but that it had disconnected parts of the affected systems to limit the impact from the attack.

The company, which is based in New York, said it was investigating and had reported the problem to law enforcement.

All Treasury trades executed Wednesday and repo financing trades on Thursday were cleared, it said. It said ICBC’s banking, email and other systems were not affected.

The company gave no further details but reports said the attack was by LockBit, a Russian-speaking ransomware syndicate that does not target former Soviet countries. It is one of the most efficient ransomware variants around, according to the cybersecurity firm Emsisoft. Active since September 2019, it has attacked thousands of organizations.

More:Invest

Recommend

As US Dismantles Its Climate Policy, Other World Leaders Seek Solidarity

As the U.S. Department of State proposed this week to shut down its office managing international cl

July 4th gas prices expected to hit lowest level in 3 years

Low gas prices are something for drivers to celebrate this July 4th, with costs at the pump expected

Plans to demolish Texas church where gunman opened fire in 2017 draw visitors back to sanctuary

SUTHERLAND SPRINGS, Texas (AP) — Plans to tear down a small Texas church where a gunman in 2017 kill