LockBit takes credit for ransomware attack on US subsidiary of Chinese bank

Security experts believe a recent ransomware attack on the US subsidiary of the Industrial & Commercial Bank of China (ICBC) may have been engineered by Russia-linked LockBit, a notorious ransomware-as-a-service (RaaS) gang. The November 8 attack disrupted bank’s trading operations and had broader impacts in the US Treasury market. The gang, which is one of the most successful RaaS groups, has been making headlines for the disruptive impacts of its operations on various sectors around the globe.