"Buffett Indicator" Predicts 62% Stock Market Crash

The last time the "Buffett Indicator" flashed this red was in 2000 - right before the market crashed 50%. Take these 4 steps to protect your retirement here.

China-Linked Hackers Breach US Department Of Treasury

Benzinga News-desk
December 30, 2024

The U.S. Treasury Department announced on Monday it was targeted by a Chinese state-sponsored hacking group that gained unauthorized access to government workstations and unclassified documents. This revelation, detailed in a letter reviewed by The Washington Post, highlights significant vulnerabilities in federal cybersecurity infrastructure.

The breach was discovered on Dec. 8, when BeyondTrust, a third-party software provider, notified the department that a hacker had exploited a security key. This key enabled the intruder to bypass critical security protocols and infiltrate Treasury Department office workstations, gaining access to sensitive but unclassified documents stored on them. The Treasury Department subsequently classified the incident as a “major incident,” aligning with its policy of treating nation-state cyber intrusions as significant threats.

Treasury officials are working with law enforcement and the Cybersecurity and Infrastructure Security Agency (CISA), a Treasury spokesperson said in a statement to CNN, and that the compromised service has been taken offline.

"There is no evidence indicating the threat actor has continued access to Treasury systems or information," the Treasury spokesperson said, per CNN.

See Also: Biden Administration Initiates Trade Probe On Chinese ‘Legacy’ Chips

The hack underscores escalating cyber threats from foreign actors, particularly China, which has been implicated in several high-profile cyber intrusions targeting U.S. government and private sector systems.

The breach also raises questions about the reliance on third-party software providers for critical operations and the adequacy of existing security protocols. Experts warn that such intrusions could potentially compromise sensitive government data and disrupt essential services, underscoring the need for robust cybersecurity strategies and increased investments in digital defense mechanisms.

This article was generated using artificial intelligence.

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