Ion Cleared Derivatives, a key supplier of trading software to the City of London, has released a statement confirming that it was hit by a suspected ransomware attack. The attack affected some of its services and therefore disrupted activity in the derivatives market. According to the supplier, the incident has been contained to a specific environment and the affected servers disconnected. The company plans to post more updates regarding the incident as they are available.
Security researchers suggest that 42 clients were impacted by the attack on Ion Cleared Derivatives due to the role its software plays in global trading. The attack has been linked to the Lockbit ransomware group, which has targeted other key organizations in London over the recent months, including an attack on the Royal Mail. Supply chain attacks such as this one can have far-reaching effects on entire industries.
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