White House

Biden’s National Security Adviser Highlited How Crypto Lies At The Core of Many Cyberattacks

Jake Sullivan – National Security Advisor of the President of the United States of America – highlighted, as a priority subject at the next G-7 and North Atlantic Treaty Organization (NATO) summits, how cryptocurrrencies lie at the core of many cyberattacks.

At a White House press briefing Monday, Sullivan said:

So one of the things we’d like to see out of the G7 is the start of an action plan that covers a number of critical areas. 

First, how to deal with the — increasing the robustness and resilience of our defenses against ransomware attacks, collectively. 

Second, how to share information about the nature of the threat among our democracies. 

Third, how to deal with the cryptocurrency challenge, which is — lies at the core of how this — these ransom transactions are played out.

And then, finally, how we collectively speak with one voice to those countries, including Russia, that are harboring or permitting cyber criminals to operate from their territory. 

So those are some of the things that we are looking for as outcomes out of the G7+.  We will also speak, in the NATO context, about cyber threats, particularly as they relate to critical infrastructure, as being of a different order of magnitude of security threat that the Alliance has to concern itself with in a way that it hasn’t historically.  But it’s got to become a priority on a going-forward basis. 

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