US Treasury Says It Was Breached by Chinese-Backed Hacker
Published On Dec 30, 2024, 6:05 PM
The US Treasury Department reported a significant cybersecurity breach allegedly orchestrated by a Chinese state-sponsored hacker. The attack utilized a third-party service provider, BeyondTrust, which allows remote technical support. The breach has been classified as severe as it enabled unauthorized access to certain Treasury workstations and their unclassified documents. While the breach has been addressed, the incident occurs amidst heightened tensions between the US and China regarding cybersecurity and espionage. In response, US officials are contemplating further action against Chinese cyber activities.
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The breach of a US Treasury system, particularly involving Chinese state-sponsored actors, could lead to increased scrutiny on Chinese technology firms and potential sanctions, which may affect markets related to technology and cybersecurity. Companies involved in cybersecurity are likely to see heightened interest and investment as firms look to enhance their security measures in the wake of such incidents.