Bitcoin Forum

US Treasury is starting to admit that it’s been hacked by foreign entities.  This is the same organization who’s pushing to establish oversight and regulation of cryptocurrency exchanges, identifying buyers and sellers.

That just gives you that warm, fuzzy feeling all over, doesn’t it!

Anything connected to the Internet can be hacked.

Dunno what information has been breached from what you've seen but correct storage of information (eg not putting pii online) is something governments should really be following.

From what I’ve read, PII is precisely what they’ve gotten in to, and Treasury really doesn’t want to admit it.  As far as their involvement with crypto exchanges, the whole thing has the aroma of IRS about it.  Call me jaded, but every time government wants oversight of something involving money, my ears go up like a jackrabbit.

Well if they're putting pii online then they probably don't have knowledge to bring prosecutions if/when they do get more information from exchanges and other places.

Not to mention that leaked information is less prosecutible against for additional reasons.

And what’s the good news about the US Treasury getting hacked, does it mean that they are not longer going to push the idea of crypto regulation? Please they will continue what they are trying to do, this still doesn’t change anything. This is the government, and they want to be in control and not let any slip through their watch.

Although I do know that there are reasons why they are trying to regulate the crypto, they have said a lot o like money laundering, and to avoid the money being used in funding terrorist activities. I do know that some of us prefer privacy, but what are we going to do? We still going to give it up because of some money launderers.

No matter how secured your platform is, if the hacker is really skilled and experienced then you can be still vulnerable to them.

Imagine US Authority can be still hacked by those criminals who are anonymous, it is really hard to deal with them.

For those who are just a normal person who are surfing in the internet, always be careful and don't put any important information in a platform that is suspicious.

It's just a reflection they still have a weak security well some of them become too much confident even they have a chief information security officer but still at the end of the day some geeks would like to test their skills and potential to hack those known high-end security establishment. This kind of attack just telling us there are no safe security establishments if you are all connected through the internet and networks there is nothing impossible.

Not only has the US Treasury been hacked, but recently a classmate of Microsoft has been hacked by some authorities whose cases were brought to the FBI still having suspicions about Russia. but here Russia completely rejects the US accusation.
The US is having a series of attacks from everywhere. of course after the presidential election ended. here Biden tested his leadership.

Nothing is fully secured over the internet, anything can happen any time which can lead to security breach.
I don't see anything fun with this, they are regulating cryptocurrency not because they want to stop you from investing in them, they actually want to separate the shaft from the good once that's why they were doing anything to protect the interests of you and other investors.
The good news keeps coming, what happen when the market cycle changes?  ;D ;D

Not likely, but is it even the Treasury department that's in charge of those kinds of regulations?  My knowledge of the US government is abysmal, I'll admit, but I would figure on Congress, the Senate, or even the IRS getting worked up enough about crypto to pass laws to regulate it.

OP, I'm the kind of person who doesn't read the news and it'd be nice if you'd provide a link when you start threads like this, because I honestly have no idea what you're talking about.  I'm trying to glean that information by reading everyone's replies, and that's a pain in the ass.

Now, the government getting hacked and having money stolen (if that's what happened; if not, it certainly could) makes me think that going completely digital as far as a monetary system is a bad idea.  I don't think physical cash should ever be done away with completely.  That isn't the topic of this thread, but it's what immediately came to mind here. 

That's not a good news for me. A hack is a hack and it does harm to any organization that has been affected by it. A government organization or agency or a crypto exchange.
Whether they're likely to put exchanges into regulations, I don't see the hacking to be a good news though. It's like being happy in the misfortune of others. But before anything else, there's no valid link and source for this news.

I'm just curious why the US Treasury being hacked can be a good news??

You don't like cryptocurrency to be regulated aren't you? Anything on the internet can be hacked and this just shows that the security of the US Treasury is weak that hackers can get access into it. More of this will happen in the future as the technology is starting to evolve so their security must upgrade too. Anyway, this isn't a good news for the US Treasury and for us crypto users.

There are many possible reason why they wanted to regulate cryptocurrency. In my opinion, it could be that they are looking for the possible responsible individuals that has been hacking financial institution and converted it to cryptocurrency. That if we will going to have a shallow analization but more possible reason is that those hack financial institution are just loses from inside job and they wanted to divert the blame to the hackers for the loses and not to them.

In the end they will just make up some weak excuses why cryptocurrencies are bad and why they need to regulate them more. This should be a wake up call for all of us. The security of FiAT currencies are diminishing more and more. We should store any large amounts of money in the big fiat currencies. The recent rally in bitcoins showed us that it is best if we just switch into cytpos.

At least for today, the government already has concrete answers, Why did they need control and regulation of the cryptocurrency market and all users of the cryptocurrency. And the main reason we are talking about is the cryptocurrencies used for criminal activity. Of course they are not going to prohibit cryptocurrency, and that's good. but for them the main thing is not struggle, but control. Even a ban is not beneficial for the government.

Well, it was combination of many things but it shows that centralization of power is very dangerous. First of all it was always said that Trump works with Russians, as it turns out the only thing Trump could "save" himself turned out ot be "everyone I have ever worked with or partnered with or hired to be my worker has worked and colluded with Russia but I didn't" and trump fans thinks that clears him, it is obvious that he just let Russians work for him and helped him get elected while specifically not having direct contact because he is smart enough to know better. And he also cut the cyber security budget down a ton this year for "covid" reasons as well, which meant weaker cyber defense, and well don't you look at it Russia hacked into the systems.

These are all proof that centralization of power is a dangerous thing and should not ever happen.

It’s generally known as sarcasm.

Don't believe their lies, it's obvious that they are going to claim that they are doing this in order to separate legitimate users of cryptocurrencies from criminals, that is the excuse that they always use, that is why they want to limit cash, that is why they want to know everything that you do online, we could keep going but you know what I mean, we cannot keep sacrificing our freedoms in order to get an elusive sense of security, at some point risks need to be accepted and as such I do not want the government to regulate this market as heavily as they want.

We may witness some major changes in our economy's structure in next couple years. That'd be absolutely great

Fiat world is always in danger of getting disturbed, hopefully one day people would realize that they are hackers and they could hack into anything, if you can hack into us treasury or you can hack into government places, or nasa, or fbi because of all those were hacked back in the day.

I am sure these hackers could also hack into banks, I know that most banks have a billion back-ups so it would be very hard to do this but I think you could hack into banks and delete everyone's debt, sure there could be backups but that doesn't change the fact that you could also destroy the backups if you can, and any offline one that you can't reach would destroy the bank long enough that it would be very hard to make a comeback from that. Hopefully instead of attacking people and their money, hackers would realize they could attack the real bad guys instead and do something good for once.

That's right. What you said is a reminder for everyone to always be careful and vigilant because hacker is everywhere and anytime they can hack what they want because I believe those hackers are experts and skilled like the man here in our country, at his young age, he stole millions of cash by being a hacker but unfortunately he was also caught by the authorities.

I'd prefer that government institutions keep open and honest about such attacks taking place, even if it does make them look foolish for a short while. The alternative would be a false sense of security and fake denial that we see in the governments of many other countries. You don't know to what extent they were hacked, it could have been some peripheral or back office devices, but they could equally have lost sensitive information. It would be incredibly naive to assume that any organisation is invulnerable - it must be incredibly difficult being in their position, as attacks must be relentless because their institutions are so important.

Okay there can be two cases here :
1. The government is trying to protect themselves because they genuinely might have sold this information to someone else or might have compromised the people , which is really really common. They do this all the time. The FBI they track everything. The FB , instagram and WhatsApp are something which is being used by the same company to track your every step. This is really common. 
2. They might have lost this database since they are only good at hacking but at the end bad at keeping them safe. They take these things for granted and at the end 🔚 this is what might happen now what should people do ??

- I am not a US citizen but I do believe that they have to stand up for this , they have to register a case against these governmental itself. No body is bigger than the judicial system. Now if they do that they might not get anything out of it BUT ** they will succeed in creating awareness about this particular thing which happens every now and then and is more or so  ignored**

Hackers are just waiting for the opportunities to blowout your assets, you need to be more furious in order to avoid them out. It's true that

everything is possible and hackable but there's also securities that have different layers in order to prevent those hackers to penetrate, it's a

matter of how good you are securing your assets and the businesses that have their own IT specialist to secure everything inside their premises.

the government will be pushed to go digital or crypto but before that will happen they will regulate crypto. and they are beginning to be doing it afaik. hacking wouldn't going to make the government realized their lack of urgency to act about crypto, they even have political problem right now.  the first thing to they might do right now is find who the culprits are.

I don't get it why you are still considering it as a great news knowing that the US treasury have been hacked by those foreign entities. You must be sad because hacks are serious matter and that just proves how not safe and secure anything that is being catered through internet this time because of the breach that happened. Even if they were pursuing crypto regulation, still it is not good that even the US Treasury have been victimized by such actions done by those hackers. They have a tight security and still they have been hacked by such entities how much more for a simple security feature? This still sounds alarming and I do not consider this as a good news after all.

When it comes in digital world it's quite hard to determine who the culprits are as theuly uses different identities and seems to be professional in doing such hacking, what really needs is to government to really tighten their security more and seek ways to improve their services or having options that  they can make sure that it's safer to use, accepting crypto or having their own crypto can help in their goal but what they really need is to limit ways or as much possible have no room that they will got hacked by strengthening their security enforcement.

Well, there's gotta be someone held accountable for this in a case this intense and serious. And this will definitely lose them the trust of the people since they advertised themselves to the public as an impenetrable department that will never be toppled down by the way their statements and hold themselves in. Prolly would take a bit more time until people are convinced to switch into crypto but wouldn't be too farfetched really. I'm pretty sure the title is just being satire about the current situation. He aimed to catch your attention through the title alome and it clearly worked, but next time read between the lines. The guy feels sorry about the situation and I can tell it even across monitor screens.

Ask yourself do you think they use computers on this government institution? And do they store important or even secret information on those computers? And I think the answer is yes to both, most likely information was stolen and in many cases that is way more valuable than whatever money hackers could have gotten since then that information can be sold to other governments for huge profits, and that is if we assume those hackers were acting independently.

When I found out that US treasury had been hacked, I was quite surprised and did not think this could happen to US treasury,
which certainly has sophisticated security. But this is the reality, no matter how good the security system, nothing is perfect.
There are always loopholes that can be exploited by hackers, it is no secret that the world of the internet is very dangerous.
Therefore, we must be careful with the personal data we have. 

As long as you are connected to the internet, hacking is always possible to happen. There are many skillful and talented hackers who are able to intercept fire walls and securities of your devices. In fact, even government and banks who have highly professional security agents get lost when hackers attack.

I can't see any good news to the OP. The bottomline of this is that we must not treat it as good news because after all it is an incident of hacking.

It’s known as sarcasm.  Of course it’s not good news.

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Nothing new under the sun. Read the following headlines and share in the tragic comedy of my american homeland.   :)


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Imagine spending $400+ billion developing a stealth fighter.

Only to have china steal all of the critical data to build their own equivalent stealth fighter for free.

In another world, this may have been a national embarrassment. As things stand this has become entirely normalized and widespread.

The problem is that cryptocurrency can only be hacked via our wallet not general as we normally expect, OK since hacker's has generate a means to disturbed cryptocurrency especially bitcoin while won't them create a measure to attack fiat banking system, so we know that fiat currency is very difficult to hack, so I think while people penetrate or have access to someone's account is because of review of their passwords, or inability to secure their private keys, it's the only I seen hacker's can easily penetrate.

Everything always moves in the direction of least resistance, so if it is easier for hackers to break into individual wallets, then this will happen. Moreover, in the situation with fiat currencies and with banking structures, you potentially need to make much greater efforts, potentially risking much more attention from law enforcement agencies and going to jail.