Treasury Department Targeted By China-sponsored Cyberattack: US

Newsletter Dec 31, 2024

Quick Six

US Treasury Department struck by China-backed cyberattack
The US Treasury Department said Monday that a China state-sponsored actor was behind a cyber breach resulting in access to some of its workstations. The incident happened earlier this month, when the actor compromised a third-party cybersecurity service provider and was able to remotely access the Treasury's unclassified documents. Treasury contacted the US Cybersecurity and Infrastructure Security Agency (ISA) after it was alerted of the situation by its provider BeyondTrust, which has been working with law enforcement partners to ascertain the impact.
SEE WHY US OFFICIALS SUSPECT CHINESE INVOLVEMENT

US credit card defaults soar to highest levels since 2010
Credit card debt in the US experts to forecast more financial pain ahead. Industry data showed factors like inflation, dwindling pandemic savings, and elevated borrowing costs due to the Federal Reserve's interest rate that sits at 4.25-4.50% have put a strain on consumers finances and credit ratings. Lenders wrote off $46 billion in seriously delinquent loans during the first nine months of 2024, a 50% increase from the same period in 2023.
CREDIT CARD COMPANIES LOSING BILLIONS TO DEFAULTS

Venezuela fined $10 million for promoting viral challenges
Venezuela's highest court on Monday fined TikTok $10 million for promoting viral challenges that authorities say left three adolescents dead from intoxication by chemical substances. Supreme Tribunal of Justice Judge Tania D'Amelio found the popular video-sharing app negligent in failing to implement "necessary and adequate measures" to stop the spread of content encouraging the challenges that appeal to young users.
BYTEDANCE ORDERED TO OPEN AN OFFICE IN VENEZUELA

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Trump supports Johnson for House Speaker

President-elect Donald Trump took to social media to announce that he is endorsing Speaker of the House Mike Johnson for another term, just days ahead of the election for the job. The endorsement has clearly communicated the President-elect's support for Johnson, which was called into question after Trump and his ally Elon Musk attempted to prevent passage of a stop-gap spending bill to avoid a government shutdown. Musk took to X to post about the bill days before it was to be voted on, calling against passage and sharing what some considered to be threats against lawmakers who may have supported the bill.

CAN TRUMP HELP JOHNSON GET ENOUGH VOTES TO WIN?

Israel must pay for war on Gaza: UN experts

United Nations rights experts on Monday said Israel must face the consequences of "inflicting maximum suffering" on Palestinian civilians in Gaza, alleging Israel was defying international law and being sheltered by its allies. Israel's retaliatory military campaign for the Oct. 7 Hamas attack has killed more than 45,500 people in Gaza, a majority of them civilians. The experts cited alleged crimes against humanity committed by Israel "including murder, torture, sexual violence, and repeated forced displacement amounting to forcible transfer".

SEE WHAT THE UN IS RECOMMENDING FOR RELIEF IN GAZA

Bigfoot hunters freeze on Christmas Eve

Two men who went hunting for Bigfoot were found dead in Washington after being missing for days. Two Portland men went searching for Sasquatch, or Bigfoot, and failed to return home on Christmas Eve. The sheriff's office located their vehicle and launched a search mission. Over the next three days, more than 60 people including canine, drone and search teams, scoured the area in "harsh weather conditions," with support from US Coast Guard air assets using infrared cameras.

RESCUERS STRUCK BY THEFT DURING HOLIDAY OPERATION

Extra point

What US president claimed he had a close encounter with Sasquatch?

Monday's answer: The US caps the number of H-1B visas issued at 65,000 per year, with another 20,000 for those with advanced degrees.

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