Biden Security Adviser Sees Crypto Role in Cyber Attacks as Priority for G-7, NATO

Biden Security Adviser Sees Crypto Role in Cyber Attacks as Priority for G-7, NATO

U.S. President Joe Biden’s adviser on national security highlighted the role of crypto in cyber attacks as a priority for the G-7 and NATO.

  • The "cryptocurrency challenge ... lies at the core" of how ransomware attacks play out, National Security Advisor Jake Sullivan said at a White House press briefing Monday.
  • Members of the G-7 and NATO must commit to devising an action plan to address the challenge as well as increasing their preparedness against such attacks and sharing information about current threats, according to Sullivan.
  • "Ransomware is a national security priority, particularly as it relates to ransomware attacks on critical infrastructure in the United States," he said.
  • Sullivan's comments follow a number of cyber attacks on U.S. infrastructure, including one on Colonial Pipeline's payment systems last month that halted fuel transportation across the East Coast, prompting concerns of a gas shortage in a dozen states.
  • Attackers linked to the Russia-based Darkside group were paid around $4.4 million in bitcoin, of which $2.3 million has been recovered by the FBI.
  • The G-7 and NATO summits take place on June 11 and 14 in Cornwall, U.K. and Brussels, Belgium respectively.
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