ICBC's $9 billion hack sends shockwaves through financial sector
TL;DR
Industrial and Commercial Bank of China's (ICBC) hack resulted in its U.S. unit owing Bank of New York Mellon $9 billion due to unsettled trades, leading the parent company to inject capital into the unit to settle the trades. ICBC has since paid back the amount. This attack is the latest in a series of ransom demands made by hackers this year. ICBC's U.S. unit is investigating the attack and has hired a third party to ensure the safety of its systems.
- Exclusive: ICBC hack led to unit temporarily owing Bank of New York Mellon $9 billion, sources say Reuters
- Brazen ransomware attack on US unit of Chinese banking giant has financial sector on alert CNN
- After a surprise cyberattack, the world's largest bank had to shuffle a USB stick around Manhattan to do business PC Gamer
- ICBC US unit gets funds to pay US$9 billion for trades after ransomware attack South China Morning Post
- LockBit's ICBC Hack Ignores Unofficial Peace Between Russia-Linked Group, China Bloomberg
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