Treasury Department announces crypto industry cyber threat sharing initiative

The U.S. Treasury Department said it will now share cyber threat intelligence with the cryptocurrency industry following multiple incidents where millions worth of consumer funds were stolen. 

Treasury’s Office of Cybersecurity and Critical Infrastructure Protection (OCCIP) announced the initiative on Thursday, writing in a statement that they will “provide timely, actionable cybersecurity information to eligible U.S. digital asset firms and industry organizations, helping them better identify, prevent, and respond to cyber threats targeting their customers and networks.” 

Eligible U.S. digital asset firms and industry organizations “that meet Treasury’s criteria” will be able to receive, at no cost, the same actionable cybersecurity information Treasury regularly shares with traditional U.S. financial institutions.

Officials did not outline what types of cryptocurrency companies will be allowed to sign up for the program and Treasury did not respond to requests for comment. 

“Cyber threats targeting digital asset platforms are growing in frequency and sophistication,” said Cory Wilson, deputy assistant secretary for cybersecurity at the Treasury Department. “This initiative expands access to actionable threat information that helps firms strengthen defenses, reduce risk, and respond more effectively to incidents.”

The initiative comes on the heels of a massive theft where alleged North Korean hackers used an elaborate scheme to steal $280 million from crypto platform Drift. More than $3.4 billion was stolen from cryptocurrency firms last year and experts have tracked billions in annual losses over the last five years.

Luke Pettit, assistant secretary for financial institutions at the Treasury Department, said digital asset firms are an “increasingly important part of the U.S. financial sector” and their resilience is “critical to the health of the broader system.”

“By extending access to the same high-quality cybersecurity information used by traditional financial institutions, Treasury is helping promote a more secure and responsible digital asset ecosystem,” Pettit said. 

The Justice Department has increasingly levied harsh charges on those accused of stealing funds from cryptocurrency platforms. There has been a whole-of-government effort to warn the crypto industry of efforts by North Korean threat actors to infiltrate organizations and steal funds. 

But the prosecutions and warnings have done little to stop both cybercriminals and nation-state hackers from repeatedly exploiting coding flaws or targeting cryptocurrency employees during cyber thefts. 

On Wednesday, cryptocurrency ATM company Bitcoin Depot said a cyberattack on March 23 led to the theft of more than $3.6 million. The $280 million stolen from Drift was one of several large thefts this year that include incidents involving losses of $26 million and $40 million. 

The threat sharing announcement comes as the Trump administration has faced backlash for cutting programs at several departments tasked with sharing cybersecurity information with the private sector. 

Last week, President Donald Trump’s fiscal 2027 budget outlined plans to cut $707 million from the budget of the Cybersecurity and Infrastructure Security Agency. The funding document explicitly says they want to eliminate programs focused on “external engagement offices.” CISA had already cut key programs built to share threat information with state governments and other key industries.