The operators of the global markets They were on high alert after the computer attack against him Industrial and Commercial Bank of China (ICBC)the largest in the country.
Fears revolved around the consequences the event could have on trading in the vital US Treasury bond market.
The American subsidiary of ICBC suffered another new computer blackmail attack, which this year has affected companies around the world.
“These cyber attacks are scary,” said Jack McIntyre, fixed income portfolio manager at Brandywine.
Primary dealers, including the largest Wall Street banks, act as counterparties to the Federal Reserve in open market operations as part of the transmission of US monetary policy.
The Chinese Foreign Ministry said ICBC was trying to minimize the impact of the risk and losses following the attack, which several experts attributed to the Hacker group Lockbit.
The evil Lockbit blackmail program
The Lockbit blackmail malware, first seen on Russian-language cybercrime forums in January 2020, has already affected 1,700 US organizations, according to the United States Cybersecurity and Infrastructure Security Agency.
Business remains normal at ICBC headquarters, branches and subsidiaries around the world, Chinese Foreign Ministry spokesperson said. Wang Wenbinin a regular press conference.
Britain’s Financial Conduct Authority said it was “liaising with relevant US and UK authorities and businesses to identify any impact on UK financial services”.
In the United States, the Financial Industry Regulatory Authority said it is monitoring any impact on businesses and customers and is working closely with other regulators.
Some players in the market said that trades made through ICBC were not settled due to the incident and that market liquidity had been affected.
Source: Ambito
