A ransomware attack on the Industrial and Commercial Bank of China (ICBC), the communist county’s largest bank, has reportedly caused a disruption at the U.S. Treasury market.
Market participants claim a ransomware attack on the ICBC has disrupted the market for U.S. Treasuries, according to a report by Financial Times.
China’s largest bank was hit by ransomware software, the Securities Industry and Financial Markets Association told members on Thursday. As a result, the ICBC was unable to settle Treasury trades on behalf of other market participants, banks and traders said.
