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The attack caused some systems to fail. Ransomware refers to malicious programs that restrict or completely block access to data and systems. A ransom is usually required for release. ICBC Financial Services contained the incident by separating and isolating the affected systems. The systems operated independently of ICBC’s in China.
As the Financial Times reported, citing market participants, the attack meant that transactions to other market participants could not be carried out. The attack also affected the liquidity of the US government bond market to some extent, but did not affect the functionality of the market as a whole. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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