World’s biggest bank forced to trade via USB stick after hack
World’s biggest bank forced to trade via USB stick after hack
International Economy
10/11/2023 6:42

On Thursday, trades handled by the world’s largest bank in the globe’s biggest market traversed Manhattan on a USB stick.

Industrial & Commercial Bank of China Ltd.’s US unit had been hit by a cyberattack, rendering it unable to clear swathes of US Treasury trades after entities responsible for settling the transactions swiftly disconnected from the stricken systems. 

Source: Bloomberg

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