LONDON, Nov 13 (Reuters) - The Industrial and Commercial Bank of China (ICBC), China's largest lender, has reportedly paid a ransom following a cyberattack on its U.S. arm last week. A representative of the Lockbit ransomware gang confirmed the payment in a statement on Monday, although Reuters has not been able to independently verify this information.

ICBC's U.S. broker-dealer was targeted in a ransomware attack that caused disruptions in the U.S. Treasury market on November 9. The bank has yet to comment on the situation.

According to the Lockbit representative, "They paid a ransom, deal closed," conveyed via the online messaging app Tox. The extent of the cyberattack was severe enough to cause a blackout in ICBC's corporate email system, leading employees to switch to Google mail for communication, as reported by Reuters.

The repercussions of the attack were significant, with ICBC temporarily owing BNY Mellon $9 billion, an amount considerably larger than its net capital.

This incident comes at a time when concerns about the resilience of the $26 trillion Treasury market are already high. The Treasury market is crucial for global finance, and this attack is expected to draw the attention of regulatory authorities.

The U.S. Treasury Department has yet to comment on the matter, leaving questions regarding the implications of the attack unanswered.

Lockbit, a notorious ransomware gang, has targeted several major organizations in recent months. When victims refuse to pay the ransom, Lockbit has resorted to stealing and leaking sensitive data. U.S. officials have identified Lockbit as the top ransomware threat worldwide in just three years.

Law enforcement agencies have consistently discouraged giving in to ransomware gangs, aiming to disrupt their business models. Ransom payments are typically demanded in cryptocurrency, which offers greater anonymity and makes it challenging to trace the recipients.

Some companies have discreetly paid ransoms to regain control of their systems promptly and prevent the potential damage to their reputation from the public leak of sensitive data. In cases where victims lack digital backups, paying the ransom becomes an unfortunate necessity to restore their systems.

Last week, Lockbit hackers claimed to have accessed computer systems at law firm Allen & Overy and published internal data from aerospace giant Boeing on their website. These incidents further highlight the growing threat of ransomware attacks targeting major corporations worldwide.