China's biggest lender ICBC hit by ransomware attack

Signage outside an Industrial and Commercial Bank of China (ICBC) branch in Shanghai, China. Photographer: Qilai Shen/Bloomberg

THE Industrial and Commercial Bank of China's (ICBC) U.S. arm was hit by a ransomware attack that disrupted trades in the U.S. Treasury on Thursday, the latest in a string of victims ransom-demanding hackers have claimed this year.

ICBC Financial Services, the U.S. unit of China's largest commercial lender by assets, said it was investigating the attack that disrupted some of its systems, and making progress toward recovering from it.