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

In a major cybersecurity incident, Chinese government-backed hackers reportedly targeted the U.S. Treasury Department’s highly sensitive Office of Foreign Assets Control (OFAC) in December 2024. OFAC is responsible for implementing economic and trade sanctions against nations and individuals, making it a critical component of U.S. foreign policy.

According to reports from The Washington Post, the attack aimed to access information about Chinese organizations potentially facing U.S. financial sanctions. The hackers also breached the Treasury Department’s Office of Financial Research and the Office of the Treasury Secretary, compromising employee workstations and unclassified documents.

Following notification of the attack by BeyondTrust, a third-party identity management software vendor, the Treasury learned about the breach on December 8, 2024. Treasury officials have described the cyberattack as a “major cybersecurity incident,” highlighting the growing threat of state-sponsored cyber espionage.

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

Stay tuned for updates on this developing story.