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In the Dec. 31 letter to Treasury Secretary Janet Yellen obtained by Law360, Senator Tim Scott, a member of the Senate Banking Committee, and Representative French Hill, the House Financial Services Committee vice chair, asked for a full congressional briefing on the breach by Jan. 10.
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Scott and Hill want the briefing to cover the information accessed by the hackers, specific details on how it occurred and steps the Treasury has taken to ensure that similar incidents don’t happen in the future, adding:
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“As you know, Treasury maintains some of the most highly sensitive information on US persons throughout government, including tax information, business beneficial ownership, and suspicious activity reports,” they said.
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The sectors said this information should be a priority to protect from theft or surveillance by foreign adversaries who might seek to harm the US.
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“As such, the fact that a CCP [Chinese Communist Party]-sponsored APT [advanced persistent threat] actor was able to access Treasury’s information systems is unacceptable and raises serious questions about the protocols for safeguarding sensitive federal government information from future cybersecurity incidents,” the lawmakers added.
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An unidentified threat actor breached employee workstations at the Treasury on Dec. 2, 2024, gaining access to certain “unclassified” documents.
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Treasury officials told lawmakers in a Dec. 30 letter that the incident has been attributed to a Chinese state-sponsored APT actor.
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The department said it would provide more details in a supplemental report in 30 days, as required under the Federal Information Security Modernization Act.
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China has denied responsibility for the attack, telling Reuters it “firmly opposes the US’s smear attacks against China without any factual basis.”
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Stuart Hoegner, general counsel of Tether and Bitfinex, has retired from his role as legal chief at the two firms and will be replaced by Michael Hilliard, who has been working alongside Hoegner for several years.
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Stuart Hoegner, general counsel of Tether and Bitfinex, has retired from his role as legal chief at the two firms and will be replaced by Michael Hilliard, who has been working alongside Hoegner for several years.
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In his motion, Storm argued that the district court said it couldn’t rule on whether Tornado Cash was immutable when it denied his motion to dismiss in September, but the appeals court opinion “decided as a matter of law” that it was.
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Copper reportedly failed to secure a permanent UK registration when the FCA updated its register of crypto asset businesses in 2022.
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“Refining Copper’s global growth strategy has been my priority since joining, and this has necessitated key decisions on our direction and approach,” Kuchinad said in a statement on Copper’s UK license application withdrawal.
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Despite the withdrawal, Copper continues to see Europe as one of its key markets alongside the US and the Middle East, Kuchinad noted, adding:
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The regulator said it only approved four out of 35 applications for cryptocurrency firm registration in the past year, with 15 applications withdrawn and nine rejected.
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He argued the opinion “most obviously impacts” his charge of conspiring to violate the International Emergency Economic Powers Act (IEEPA), a law central to the US sanctions apparatus, as the appeals court found the smart contracts “are not the ‘property’ of a foreign national or entity,” meaning they “cannot be blocked” under the law.
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The Fifth Circuit said Tornado Cash’s smart contracts are unable to be changed or removed and can be used by anyone — including sanctioned North Korean hackers — while the creators “would be powerless to stop them,” adding:
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