Hacking of the London branch of ICBC

12 September 2024 2 minutes Author: Newsman

The Hunters Ransomware group claims that the London branch of the Industrial and Commercial Bank of China (ICBC) was hacked, leaking 6.6 terabytes of data, putting the bank and its customers at risk.

The Hunters Ransomware group has announced that it has hacked the London branch of the Industrial and Commercial Bank of China (ICBC), one of China’s largest state-owned banks. According to them, 6.6 terabytes of data were stolen, which is more than 5.2 million files. The deadline for compliance with the criminals’ demands is set for September 13, 2024, after which the data can be published. The breach highlights the growing risks for financial institutions, which are often targeted by cybercriminals because of the sensitivity of the data they hold.

ICBC is the world’s largest bank by assets, and a leak could result in significant reputational and financial losses, as well as compromising customer personal data. The Hunters International group, a relatively new player in the cybercrime market, emerged after the destruction of the Hive group in 2023. Despite being new, Hunters have already claimed to have hacked more than 134 organizations across various industries in a year.

This hack confirms the need for enhanced security measures in financial institutions. Banks are advised to implement comprehensive security systems, regularly update data backups and train staff to recognize phishing attacks. ICBC’s response to this situation could have far-reaching consequences for the financial industry as a whole.

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