ICBC, World's Largest Bank, Continues to Encounter Trader Caution Post Cyberattack

Industrial & Commercial Bank of China Ltd., the world’s largest lender by assets, has been unable to convince some market participants that it’s safe to reconnect their computer networks to the bank’s US unit after a ransomware attack disrupted its systems, according to people familiar with the matter.

The attack, which was claimed by the Russia-linked LockBit cybercrime and extortion gang earlier this month, impeded trading in the $26 billion Treasury market and, the people said, it has left users of the bank’s US arm skittish about trading with the bank.

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