ICBC Hacked: Major Bank Pays Ransom in Treasury Market Crisis To LockBit
🖥️ Huge Impact ICBC's US branch faced a huge ransomware attack, causing big problems. They owed BNY Mellon $9 billion, a huge sum compared to their capital. The hack was so severe that corporate emails stopped working!
🔒 Market Recovery The market is stabilizing now. But this attack raises big concerns about the safety of the $26 trillion Treasury market.
🛡️ Ransomware Threat Lockbit, the gang behind this, is a major global threat. They've hit over 1,700 US organizations. Paying ransom is controversial but sometimes the only choice for victims, most Lockbit Hackers demands ransom payments in XMR
🚨 Why Pay Ransom? Companies pay to get back online fast and avoid data leaks. Without backups, they're stuck. Last week, Lockbit also targeted Boeing and law firm Allen & Overy.