'Large number' of Americans' metadata stolen by Chinese hackers, senior official says

Published On Dec 4, 2024, 6:32 PM

A recent cyberespionage campaign by a Chinese hacking group known as "Salt Typhoon" has resulted in the theft of a large number of Americans' metadata, as reported by U.S. officials. The hackers have targeted numerous companies, including several U.S. telecommunications firms. While it is confirmed that a significant amount of data was compromised, it is unclear how many specific individuals' metadata was accessed. U.S. officials have prioritized addressing this cyber intrusion under the Biden administration, and classified briefings on the matter have been held at the governmental level. The stolen metadata could reveal specific patterns about individuals' lives, given its detailed nature regarding call records.

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Given the recent alarming news related to cyber security and data breaches, companies in the cybersecurity sector may see an uptick in stock performance as businesses look to enhance their cybersecurity measures. Additionally, telecommunications firms may experience increased scrutiny and regulatory concerns, potentially hurting their stock prices. Investors could seek opportunities in cybersecurity firms or ETFs focused on technology and cybersecurity solutions.

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