National security adviser says Biden to discuss the crypto role in cyberattacks at G-7, NATO

Jake Sullivan, the U.S. national security adviser of President Joe Biden, highlighted the role of cryptocurrencies in cyberattacks and hacking as a priority for the upcoming North Atlantic Treaty Organization (NATO) and G-7 summits this month.

Biden will discuss the “deal with the cryptocurrency challenge, which is — lies at the core of how this — these ransom transactions are played out,” Sullivan said at a White House press briefing.

The national security adviser also mentioned that members of the G-7 and NATO must increase their alertness against ransomware attacks and share current threats.

“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 on ransomware followed a number of cyberattacks on U.S. infrastructure.

Last month, a Russia-based cybercriminal group, DarkSide, penetrated the pipeline operator on the East Coast, hacked and locked out the systems, and demanded a ransom, which led to massive shortages at gas stations.

Colonial Pipeline had to pay about $4.4 million in Bitcoin to recover their system, of which the FBI has recovered $ 2.3 million worth of Bitcoin on Monday.

U.S. will pull up the issue in the G-7 and NATO summit and discuss about, “those countries, including Russia, that are harboring or permitting cybercriminals to operate from their territory,” Sullivan said in the press briefing.

The G-7 summit will take place on June 11 in Cornwall, U.K. and leaders from the hosting country, Canada, France, Germany, Italy, Japan, and the U.S. will attend the summit. The NATO summit will be held in Brussels on June 14.

Picture Credit: Japan Times