China's biggest lender, the Industrial and Commercial Bank of China, paid a ransom after it was hacked. The hack was so extensive that even corporate email at the firm ceased to function, forcing employees to switch to Google mail. The blackout at ICBC's U.S. broker-dealer left it temporarily owing BNY Mellon $9 billion, an amount many times larger than its net capital. A Lockbit ransomware gang representative claimed that ICBC had made them a payment.

In just three years, Lockbit has become the world's top ransomware threat hitting more than 1,700 organizations in America alone.https://lnkd.in/eA8GHd2 Read more about this story on our LinkedIn page