AsianFin -- The U.S. Treasury Department has confirmed it was targeted in a “major cybersecurity incident” attributed to a Chinese state-sponsored hacking group. This revelation comes just days after the Biden administration accused China of orchestrating a widespread cyber-espionage campaign that compromised nine telecommunications companies.
Hackers exploited a vulnerability in a third-party software provider, BeyondTrust Inc., to access a critical key used to secure a cloud-based service supporting Treasury users, according to a letter from the agency to Congress. Treasury was notified of the breach on December 8 by BeyondTrust, which serves as a technical support provider.
The incident follows a December 27 White House statement disclosing that a hacking group known as Salt Typhoon had infiltrated nine telecom firms, raising alarm over China's cyber-espionage activities. US officials, including Anne Neuberger, Deputy National Security Adviser for Cyber and Emerging Technologies, have emphasized the urgent need for stronger cybersecurity measures, criticizing organizations for neglecting basic practices that leave them vulnerable to nation-state hackers.
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