cryptocurrency participants quickly responded to news that hackers had infiltrated the US Treasury.
According to a Reuters report, a sophisticated hacking group backed by a foreign government - said to be Russia, according to three people familiar with the investigation - managed to infiltrate the US Treasury as well as The National Communications and Information Administration (NTIA) along with the Ministry of Commerce.
The incident occurred less than a month after Donald Trump fired the Department of Homeland Security's head of cybersecurity, Chris Krebs. However, Reuters reported that the hackers had been monitoring emails of employees of the National Communications and Information Administration working on Microsoft Office 365 for months. Other government agencies may have been hacked, but the sources did not provide additional details.
In response to the attack on such a powerful government agency, cryptocurrency participants pointed out the advantages of Bitcoin (BTC).
As Dan Held, Head of Business at Kraken said on Twitter: Bitcoin is never hacked. Bitcoin advocate Anthony Pompigliano also echoed Held's sentiments, saying Bitcoin had never been hacked.
while the BlockFolio targeted cybersecurity for the National Communications and Information Administration, implying that the agency used outdated algorithms for its cryptocurrency security.
It is not clear if any funds have been hacked as a result of this violation. At the time of writing the article, the breach appears to be limited to information potentially stolen from government agency emails.
as Taylor Monahan, founder and CEO of MyCrypto, said: "They have not succeeded in their endeavor ... the treasury has already been breached by internal actors. The statement may reflect that the United States government printed more money in 2020 than it has printed for nearly the entire life of the country.
