Major cryptocurrency figures reacted to recent hacks of the U.S. Treasury, arguing Bitcoin is a safer alternative to the current financial system
Leading cryptocurrency advocates were quick to respond after reports emerged that hackers had breached parts of the U.S. Treasury. Supporters claimed that a scenario like this could never occur with Bitcoin due to the digital currency’s strong security features and decentralized design.
Reuters reported that suspected Russian-linked cyber actors had breached systems and monitored email communications in the U.S. Treasury and Commerce departments. People familiar with the matter warned the discovery might only be the tip of the iceberg, saying the attackers could have done more than simply observe messages.
Hackers also accessed the National Telecommunications and Information Administration (NTIA) and monitored its communications. The breach was serious enough to prompt a White House National Security Council meeting over the weekend.
According to Reuters, the attackers had been monitoring NTIA email accounts for months. The compromised email services were hosted through Microsoft Office 365.
The breach of the Treasury and related agencies triggered reactions within the crypto community. Kraken executive Dan Held posted a screenshot of the headlines with the caption “Bitcoin never gets hacked.”
Longtime Bitcoin advocate Anthony “Pomp” Pompliano echoed Held’s sentiment, noting that Bitcoin itself has never been hacked. Proponents praised Bitcoin’s security model and its decentralized architecture.
Crypto portfolio app Blockfolio criticized the NTIA’s cyber defenses, asserting that the agency relied on outdated cryptographic algorithms. Blockfolio tweeted: “Bitcoin trusts a SHA-256 algorithm more than the U.S. Treasury.”
Despite attacks on various exchanges and platforms over the years, Bitcoin’s core protocol has remained secure since its launch more than a decade ago. The reports did not indicate that monetary assets had been compromised in this incident.
For now, the attackers appeared focused on information circulating among government agencies rather than directly targeting digital assets.
Although Bitcoin’s cryptographic protections and anti-malware practices are widely adopted across the industry, cryptocurrency exchanges have remained attractive and vulnerable targets for cybercriminals. Since Bitcoin’s inception, exchanges with insufficient security have lost billions of dollars to hacks and thefts.