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Biden Accuses Chinese State Officials of Ransomware, Crypto-jacking Attacks

Biden Accuses Chinese State Officials of Ransomware, Crypto-jacking Attacks

The United States’ president has accused China of encouraging cyberattacks such as ransomware, crypto-jacking, digital extortion, and theft.

White House Statements

The claims were made public on Monday as part of a broader statement alleging that China’s Ministry of State Security (MSS) was also involved in a huge Microsoft Exchange email attack earlier this year that affected 30,000 firms.

The federal government is also accusing four people of working for the MSS with espionage and computer crimes.

According to a White House press release:

“Hackers with a history of working for the PRC Ministry of State Security (MSS) have engaged in ransomware attacks, cyber-enabled extortion, crypto-jacking, and rank theft from victims around the world, all for financial gain.”

Cyberattacks On Rise

Cyberattacks on vital infrastructure have been on the rise, with ransomware attacks particularly grabbing headlines this year. The US government has already launched a new strategy to combat these sorts of cybercrime. This also includes figuring out how to avoid or trace crypto payments during such assaults.

The News Conference

Reportedly, it also intends to establish a new ransomware task team.

In a news conference on Sunday, the US government underlined these efforts.

“We have our four-part counter-ransomware strategy – which you all know – from resilience to focusing on cryptocurrencies, to working with countries around the world to build a coalition to hold Russia and other countries accountable, to really focusing on disrupting actor’s infrastructure, and funding payments,” said an administration official speaking anonymously.

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