Chinese Hackers Target US Treasury’s Sanctions Office in December Cyberattack

Chinese government hackers hit the US Treasury in December 2024. In a big breach, Chinese government-backed hackers targeted the US Treasury Department’s Office of Foreign Assets Control (OFAC) in December 2024. OFAC is the department that implements economic and trade sanctions against countries and individuals so it’s a big deal.

According to The Washington Post, the hackers were after information about Chinese organizations that might be facing US financial sanctions. They also hit the Treasury Department’s Office of Financial Research and the Office of the Treasury Secretary, grabbing employee workstations and unclassified documents.

BeyondTrust, a third-party identity management software vendor, notified the Treasury of the breach on December 8, 2024. Treasury officials are calling it a “major cybersecurity incident” and the threat of state-sponsored cyber espionage is getting bigger and bigger.

This attack underscores the importance of bolstering cybersecurity measures to protect sensitive governmental data.

Stay tuned for updates on this developing story.