Treasury disclosed hack earlier this week, with Washington Post reporting targets were Office of Foreign Assets Control and Office of Financial Research

Summary

Chinese government hackers targeted the US Treasury offices overseeing economic sanctions, including the Office of Foreign Assets Control and the Office of Financial Research, via a breach disclosed earlier this week.

Hackers accessed unclassified documents by compromising third-party cybersecurity provider BeyondTrust. Officials suggest China sought information on entities potentially facing US sanctions.

Beijing denied the allegations, calling them baseless. This incident follows other cyberattacks, including breaches of major US telecom firms.

The hack underscores US-China tensions, with sanctions remaining a key US foreign policy tool against Beijing.

  • @gibmiserEnglish
    11•5 days ago

    Sounds like the sanctions are at least somewhat effective then?

    • ℍ𝕂-𝟞𝟝English
      6•5 days ago

      No, they are not, so please, stop them! I’m begging you! You’re only hurting yourself! If you don’t stop I’ll nuke you! - Russia in the past months.

    • @[email protected]English
      1•4 days ago

      Effective and efficient can be different. Some sanctions could be very effective, as in they ultimately achieve the intended goal, but very inefficient as they use a lot of resources. Other sanctions might not be effective on their own, but could be very efficient, as they us very little resources on your own side.

      For the latter iirc. when Trump started a trade war with the EU, the EU mostly sanctioned agricultural products from areas where Trump was particularly popular. It didn’t cause that much damage to the US economy, but it was very cheap for the EU to substitute these products and caused disproportionate political damage.

  • @[email protected]English
    2•4 days ago

    by compromising third-party cybersecurity provider BeyondTrust.

    We shouldn’t be relying on a business whose sole purpose is to maximize profit to provide cybersecurity for our public institutions.

    We need to raise taxes on the ruling class to have public employees developing software for public institutions.

    And of course, public money should only be spent on GPL software. Public funds, public code.