Lockbit, a criminal gang with ties to Russia, specializes in using malicious software known as ransomware to encrypt files on its victims’ computers, then demanding payment to unlock the files. Earlier this year, it took credit for an attack against ION that paralyzed derivatives trading across markets for everything from commodities to bonds and forced several banks and brokers to process trades manually.
Industrial & Commercial Bank of China Ltd. is suspected of being hacked by the same group that has — just in the past year — also hit Boeing Co., ION Trading UK and the UK’s Royal Mail.
The prolific gang known as Lockbit is suspected to have orchestrated a ransomware attack against the US unit of ICBC, the world’s largest lender by assets, according to people familiar with the situation, who asked not to be identified because the information isn’t public. The attack has resulted in disruptions across the US Treasury market, with some transactions failing to clear and traders being asked to reroute their deals.
