The U.S. Treasury Department is moving to provide cybersecurity intelligence directly to cryptocurrency firms, aiming to strengthen defenses across the digital asset sector, days after North Korean hackers allegedly drained an estimated $285 million from Drift Protocol, after manipulating oracle pricing using a fabricated token.
In a statement on Thursday, Treasury’s Office of Cybersecurity and Critical Infrastructure Protection said it will begin distributing real-time, actionable threat intelligence to qualifying U.S.-based digital asset companies and industry groups.
The program is designed to help firms detect vulnerabilities, prevent attacks and respond more effectively to cyber incidents.
Crypto Firms To Receive Bank-Level Threat Intelligence
Under the initiative, eligible crypto businesses will gain access to the same cybersecurity insights currently shared with traditional financial institutions, at no cost.
Officials said the effort reflects growing concern over increasingly sophisticated attacks targeting digital asset platforms. Cory Wilson, deputy assistant secretary for cybersecurity at the Treasury Department, said cyber threats in the sector are becoming more frequent and complex, requiring stronger coordination between government and industry.
The Treasury did not specify which firms would qualify for participation or outline detailed eligibility criteria.
Rising Hacks Highlight Industry Vulnerabilities
The announcement follows a string of major security breaches affecting crypto platforms. Last week, an incident involved an alleged North Korean-linked operation that resulted in the loss of approximately $285 million from Drift Protocol.
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Across the industry, losses from cyberattacks have continued to mount, with billions of dollars stolen annually in recent years. Additional incidents this year include attacks leading to losses of tens of millions of dollars, as well as a separate breach at a cryptocurrency ATM operator that resulted in more than $3 million being taken.
Despite increased enforcement actions and warnings from U.S. authorities, cybercriminal groups and state-backed actors have continued to exploit technical weaknesses and target employees within crypto firms.
Government Push To Strengthen Digital Asset Security
Treasury officials said the initiative is part of a broader effort to integrate digital asset companies more closely into the financial system’s security framework.
Luke Pettit, assistant secretary for financial institutions, said the resilience of crypto firms is becoming increasingly important as their role in the U.S. financial system expands.
The move comes amid broader policy debates around cybersecurity funding, including proposed budget cuts to federal programs responsible for sharing threat intelligence with private-sector organizations.
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