„Bitcoin means relying more on a SHA256 algorithm than on the U.S. Treasury,“ said Blockfolio.
Several of the best known names in crypto space were quick to respond to the news that hackers had violated the security of the United States Department of the Treasury.
„Bitcoin is never hacked,“ said Kraken business chief Dan Held on Twitter. Bitcoin bullish Anthony „Pomp“ Pompliano echoed Held’s sentiment, saying Immediate Edge scam has never been hacked.
Blockstack CEO seeks to create new regulatory framework for value tokens
According to a Reuters report, a „sophisticated group of hackers“ backed by a foreign government (allegedly the Russian one, according to three people familiar with the investigation) was able to breach the security of the State Treasury Department, as well as the National Telecommunications and Information Administration, or NTIA, and the Department of Commerce.
The incident occurred less than a month after Donald Trump fired the Department of Homeland Security’s head of cyber security, Chris Krebs. However, Reuters stated that hackers had been monitoring NTIA staff emails sent through Microsoft Office 365 „for months“. Other government agencies may also have been affected, but the sources did not provide additional details.
SEC wins $700,000 in another ICO-related court case
In response to the attack on such a powerful government agency, several crypto space actors pointed out the advantages of Bitcoin (BTC).
Cryptopia Begins Claims Process to Reimburse Creditors
Blockfolio charged against NTIA’s cyber security, suggesting that the agency used outdated algorithms for its cryptographic security:
Bitcoin means relying more on a SHA256 algorithm than on the US Treasury.
It is unclear whether any funds were compromised as a result of the attack. At the time of publication of this article, the hacking seems to be limited to information potentially stolen from government agency emails.
U.S. Comptroller of the Currency reveals how crypto-currency companies can become banks
„The joke is on them,“ said MyCrypto founder and CEO Taylor Monahan. „The treasure has already been hacked by inside players. The statement may refer to the fact that the U.S. government printed more money in 2020 than in most years of the country’s existence.