Cybercrime gang Lockbit claims ICBC ‘paid ransom’ after hack

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Cybercrime gang Lockbit claims ICBC ‘paid ransom’ after hack

By Alexandra Leonards

14/11/2023

Cyber gang Lockbit has claimed that ICBC paid it a ransom after the bank was hit by a cyber-attack last week.

The US arm of ICBC, China’s largest commercial bank, experienced a ransomware incident that reportedly disrupted trades in the US Treasury market.

At the time, a spokesperson from China's foreign ministry said that the bank was attempting to reduce any risk and losses following the attack.

According to reports, ministry spokesperson Wang Wenbin said that the bank had been closely monitoring the matter and had “done its best” in its emergency response.

“They paid a ransom, deal closed”, a Lockbit gang representative told Reuters on Monday.

The news agency said that it was unable to independently verify whether China’s largest lender had indeed paid out a ransom following the incident.

FStech has reached out to ICBC for comment.

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