China's Industrial and Commercial Bank (ICBC) paid a ransom after being hacked by the Lockbit ransomware gang, according to a representative. ICBC's US arm was hit by the attack, causing disruptions in the US Treasury market. The extent of the hack was significant, with corporate email at the firm ceasing to function. Lockbit has become the world's top ransomware threat, with victims including large organizations. Some companies choose to pay the ransom to quickly restore their systems and avoid reputational damage.