Cybersecurity Breach at ICBC Disrupts US Treasury Market Trades

Industrial and Commercial Bank of China (ICBC) experienced a ransomware attack that disrupted some trades in the U.S. Treasury market, according to the Treasury Department. The attack, which paralyzed ICBC's computer systems, prevented the settlement of trades on behalf of other market players. The identity of the hackers behind the attack remains unknown. ICBC is in the process of restoring services, and the Treasury market appeared to be functioning normally.