---
title: "ICBC (US arm) security incident"
description: "What the retained public evidence establishes about the ICBC (US arm) incident, its attack path, impact, and response."
incident_type: "Cybersecurity incident"
status: "active"
last_modified: "2026-09-19"
canonical_url: "https://www.ally.security/incidents/icbc-us-arm-security-incident-2023"
markdown_url: "https://www.ally.security/incidents/icbc-us-arm-security-incident-2023.md"
stix_url: "https://www.ally.security/incidents/icbc-us-arm-security-incident-2023/stix.json"
---

# ICBC (US arm) security incident

LockBit ransomware. Disrupted US Treasury market clearing/settlement; trades settled via USB courier as a workaround.

Last modified Sep 19, 2026 · 1 source

## Summary

- **Environment:** Financial services
- **Operational impact:** Disrupted US Treasury market clearing/settlement; trades settled via USB courier as a workaround
- **Financial impact:** No financial figure is established by the reviewed source evidence

## What happened

In Nov 2023, Industrial and Commercial Bank of China Financial Services experienced an incident in its financial services environment. The retained source describes the attack path as follows: LockBit ransomware. [1](#source-1)

The documented consequence was: Disrupted US Treasury market clearing/settlement; trades settled via USB courier as a workaround. [1](#source-1)

## Impact

- Documented impact: Disrupted US Treasury market clearing/settlement; trades settled via USB courier as a workaround. [1](#source-1)
- No financial loss, ransom amount, recovery cost, or regulatory penalty is established by the reviewed source evidence.

## Threat Group & Attack Vector

The retained source describes the attack path as follows: LockBit ransomware. The canonical record does not add intrusion steps beyond those supported by the source. [1](#source-1)

### Actors

- **LockBit** — identified in the supported attack description. [1](#source-1)

### TTPs

- [T1486 — Data Encrypted for Impact](https://attack.mitre.org/techniques/T1486/) — mapped from the cited behavior. [1](#source-1)

## Response

The reviewed source does not describe containment, notification, or restoration steps in enough detail to summarize them responsibly.

This account is bounded to [United States sanctions affiliates of LockBit ransomware group](https://home.treasury.gov/news/press-releases/jy2114). Details absent from that evidence are left unresolved rather than inferred. [1](#source-1)

## Assets

[Download the case-scoped STIX 2.1 bundle](<https://www.ally.security/incidents/icbc-us-arm-security-incident-2023/stix.json>)

## Sources

Primary source records used to research this incident.

<a id="source-1"></a>

### United States sanctions affiliates of LockBit ransomware group

official · U.S. Department of the Treasury

<https://home.treasury.gov/news/press-releases/jy2114>

<details>
<summary>Evidence ledger</summary>

Review the supporting structured claims.

1. **Affected Organization · 100% confidence · current**  
   ICBC (US arm) security incident: Industrial and Commercial Bank of China Financial Services
2. **Resulted In · 100% confidence · current**  
   ICBC (US arm) security incident: The reviewed source documents the icbc (us arm) security incident involving Industrial and Commercial Bank of China Financial Services.
3. **Used Attack Technique · 90% confidence · current**  
   ICBC (US arm) security incident: https://attack.mitre.org/techniques/T1486/
4. **Resulted In · 95% confidence · current**  
   ICBC (US arm) security incident: LockBit ransomware.
5. **Resulted In · 85% confidence · current**  
   ICBC (US arm) security incident: Disrupted US Treasury market clearing/settlement; trades settled via USB courier as a workaround.

</details>