On January 1, 2025, it was reported that hackers linked to the Chinese government breached the computer systems of several U.S. Treasury Department divisions involved in economic and trade sanctions planning and implementation. The Washington Post cited unnamed U.S. officials in its report.
The affected entities include the Office of Foreign Assets Control (OFAC) and the Office of Financial Research (OFR). Additionally, attempts were made to infiltrate the office of U.S. Treasury Secretary Janet Yellen. Earlier in the week, the Treasury Department informed Congress that hackers had stolen non-classified documents during a 'significant incident' and had compromised a cybersecurity service provider, BeyondTrust.
According to the report, the Chinese government is particularly interested in U.S. sanctions targeting Chinese organizations. In December, Yellen indicated that Washington does not rule out imposing sanctions against Chinese banks as part of efforts to reduce Russia's oil revenue and restrict foreign supplies supporting its war in Ukraine.
The U.S. Treasury Department has not commented on The Washington Post's report. In response, Liu Pengyu, spokesperson for the Chinese Embassy in the U.S., dismissed the claims as 'irrational' and 'baseless,' characterizing them as 'slanderous attacks' on Beijing. He asserted that China is 'combating all forms of cyberattacks.'