Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home Incidents

ICBC Ransomware Disrupts U.S. Treasury

November 10, 2023
Reading Time: 6 mins read
in Incidents
ICBC Ransomware Disrupts U.S. Treasury

The Industrial & Commercial Bank of China (ICBC) is currently recovering from a ransomware attack that significantly disrupted the U.S. Treasury market, causing issues with equity clearing. Members of the Securities Industry and Financial Markets Association were notified of the incident, which left ICBC unable to connect to DTCC/NSCC.

Furthermore, this connectivity issue impacted all of ICBC’s clearing customers, prompting the temporary suspension of inbound FIX connections and order acceptance. The ransomware attack not only affected ICBC’s internal systems but also prevented the settlement of U.S. Treasury trades for other market participants. The emergency notice issued to equity traders revealed the severity of the situation, with ICBC actively working to restore systems and services.

Additionally, the attack raised concerns about the broader implications for the financial sector, leading to a suspension of critical trading activities. The U.S. Treasury market, a cornerstone of financial operations, was directly impacted, emphasizing the vulnerabilities of interconnected global financial systems to cyber threats. The incident prompted heightened regulatory scrutiny, with a U.S. Treasury spokesperson confirming ongoing monitoring and communication with key financial sector participants. The aftermath of the ransomware attack highlights the potential cascading effects cyber incidents can have on critical financial infrastructure.

At the same time, the disruption not only affected ICBC’s immediate operations but had broader consequences for market participants relying on the settlement of U.S. Treasury trades. As ICBC works to restore normalcy, the incident underscores the need for robust cybersecurity measures in the financial sector and the importance of collaboration between institutions and regulators to mitigate the impact of such cyber threats on global financial markets.

References:

  • Ransomware attack on ICBC disrupts trades in US Treasury market
Tags: ChinaCyber AttacksCyber incidentCyber Incidents 2023CybersecurityFinanceICBCNovember 2023United States
ADVERTISEMENT

Related Posts

Sompo Data Breach Puts 17.5M Records At Risk

Sompo Data Breach Puts 17.5M Records At Risk

June 11, 2025
BHA Hit By Ransomware But Races Continue

BHA Hit By Ransomware But Races Continue

June 11, 2025
DDoS Disrupts Roularta Media In Belgium

DDoS Disrupts Roularta Media In Belgium

June 11, 2025
Illinois HFS Employee Phishing Leaks Data

Texas DOT Breach Leaks 300K Crash Reports

June 10, 2025
Illinois HFS Employee Phishing Leaks Data

Cyberattack Disrupts UNFI Food Deliveries

June 10, 2025
Illinois HFS Employee Phishing Leaks Data

Illinois HFS Employee Phishing Leaks Data

June 10, 2025

Latest Alerts

Fake Sora AI Lure Installs Infostealer

FIN6 Uses Fake Resumes To Hack Recruiters

Microsoft Fixes Exploited WebDAV Zero Day

Google Bug Exposed Any User’s Phone Number

Roundcube RCE Flaw Risks 84,000 Servers

New Skitnet Malware Arms Ransomware Gangs

Subscribe to our newsletter

    Latest Incidents

    BHA Hit By Ransomware But Races Continue

    Sompo Data Breach Puts 17.5M Records At Risk

    DDoS Disrupts Roularta Media In Belgium

    Texas DOT Breach Leaks 300K Crash Reports

    Illinois HFS Employee Phishing Leaks Data

    Cyberattack Disrupts UNFI Food Deliveries

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial