The Lockbit ransomware gang claimed responsibility for a November 9 ransomware attack against the U.S. arm of the Industrial and Commercial Bank of China (ICBC). According to a Lockbit representative, the ICBC has since paid a ransom to restore its services.

• The attack temporarily left the ICBC owing $9 billion to BNY Mellon. The hack also completely shut down ICBC’s corporate email, and employees had to switch to Google Mail to restore communication.
• Lockbit has attacked over 1,700 organizations from almost every sector in the United States. U.S. officials have previously called Lockbit the world’s top ransomware threat.
• In previous cases where victims refused to pay ransom demands, Lockbit has leaked sensitive data from some of the world’s largest organizations. Some companies pay ransoms to quickly restore systems and avoid reputational damage resulting from leaks, while others do not possess digital backups and are forced to comply with the gang’s demands.
• Authorities advise against paying ransoms to online criminal organizations. A spokesperson from the U.S. Treasury Department did not comment on the ICBC situation on Monday.

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https://www.reuters.com/technology/cybersecurity/icbc-paid-ransom-after-hack-that-disrupted-markets-cybercriminals-say-2023-11-13/