China’s largest bank, ICBC, has been targeted in a ransomware attack, causing disruption in the US Treasury market. The attack is believed to have been carried out by LockBit, a Russian-speaking ransomware syndicate that has previously targeted organizations such as the Royal Mail and Boeing. LockBit is known for its use of double extortion tactics, where stolen data is threatened to be released if ransom is not paid. The group operates as ransomware-as-a-service, with affiliates sharing in the ransom payments. LockBit is unique in its ability to self-propagate and spreads autonomously.
Share via:
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
What is LockBit? The hacker group said to be behind the attack on one of the China’s largest bank, ICBC
China’s largest bank, ICBC, has been targeted in a ransomware attack, causing disruption in the US Treasury market. The attack is believed to have been carried out by LockBit, a Russian-speaking ransomware syndicate that has previously targeted organizations such as the Royal Mail and Boeing. LockBit is known for its use of double extortion tactics, where stolen data is threatened to be released if ransom is not paid. The group operates as ransomware-as-a-service, with affiliates sharing in the ransom payments. LockBit is unique in its ability to self-propagate and spreads autonomously.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi
