World’s biggest bank forced to trade via USB stick after hack

Industrial & Commercial Bank of China (ICBC) was hit by a cyberattack, forcing it to use a USB stick to send settlement details for US Treasury trades after its systems were disconnected. The attack, believed to be by the Lockbit gang with ties to Russia, caused disruption in the market as trades had to be rerouted. The incident highlights the risk of a cyberattack that could disrupt the financial system, prompting banks to improve their defenses.

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