A recent cyberattack on the US Treasury Department has revealed that Chinese government hackers targeted the Office of Foreign Assets Control (OFAC), a highly sensitive sanctions office, according to reports. The state-sponsored hackers allegedly sought to access information on Chinese organizations that the US government may be considering designating for financial sanctions.

The cyberattack, which occurred in December, was carried out by a China-backed hacking group that compromised the US Treasury's systems to access employee workstations and unclassified documents. In addition to the OFAC, the hackers also breached the Treasury Department's Office of Financial Research and the Office of the Treasury Secretary, according to The Washington Post.

The OFAC is a critical government department responsible for imposing economic and trade sanctions against countries and individuals. The potential access to sensitive information on Chinese organizations facing financial sanctions raises concerns about the motivations behind the cyberattack. It is unclear what specific information the hackers were seeking, but the breach has significant implications for national security and global economic relations.

The cyberattack was discovered on December 8 when BeyondTrust, a third-party software provider of identity management tools, alerted the Treasury Department to a cybersecurity incident. The Treasury Department has characterized the incident as a "major cybersecurity incident," but has not provided further details on the extent of the breach or the measures being taken to mitigate its impact.

The US Treasury Department did not immediately respond to questions from TechCrunch, leaving many questions unanswered about the attack. The incident highlights the ongoing threat of state-sponsored cyberattacks and the need for robust cybersecurity measures to protect sensitive government information.

The breach also underscores the escalating tensions between the US and China in the realm of cybersecurity. The two nations have been engaged in a prolonged standoff over issues such as intellectual property theft, trade secrets, and national security. The targeting of the OFAC suggests that China may be seeking to gain an upper hand in the ongoing trade and economic rivalry between the two nations.

As the incident continues to unfold, it remains to be seen what steps the US government will take to respond to the breach and prevent future incidents. One thing is clear, however: the threat of state-sponsored cyberattacks is a pressing concern that requires sustained attention and investment in cybersecurity infrastructure.