China's banks seen as vulnerable after ransomware attack on ICBC

World's largest bank by assets remains disconnected from U.S. Treasury market

20231116 ICBC

The ransomware attack against ICBC disrupted the giant U.S. Treasury market. (Nikkei montage/Source photos by Reuters)

ECHO WONG, Nikkei staff writer

HONG KONG -- The recent hacking of the Industrial and Commercial Bank of China (ICBC), the world's largest bank by assets, is raising fears about the vulnerability of other mainland lenders to ransomware attacks, market participants say.

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