The US financial services division of the Industrial and Commercial Bank of China experienced a ransomware attack. However, despite efforts to recuperate the situation, there was still disruption to US Treasury trades. Although it is still not revealed who was behind the attack, there are clues as to the kind of software behind it. According to Marcus Murray, founder of Truesec, the ransomware used was called LockBit 3.0. This particular software is a challenge because “each instance of the malware requires a unique password to run without which analysis is extremely difficult or impossible”. LockBit, the group behind the software, uses the “ransomware-as-a-service” business model.
